Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

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Mortgage Rates Fall After Three-Week Ascent

Friday, Jun 09 2023
Lending
Written by  The Mortgage Leader

After three weeks of rising ever closer to 7%, U.S. long-term mortgage rates have pulled back, faced with mixed signals on the economy. So reports CNN.

arrow 98577 1280According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 6.71% in the week ending June, versus 6.79% the previous week and 5.23% a year before.

Freddie Mac’s chief economist, Sam Khater, cited a lack of housing inventory as “the biggest obstacle” for would-be buyers.

Read the full article from CNN.

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