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Federal Home Loan Mortgage Corporation (FMCKO)
- Reuters
US 30-year fixed-rate mortgage falls to 7.09%, still too high to boost housing
U.S. mortgage rates fell this week for the first time in more than a month amid signs of slowing economic activity, but remain too high to provide a significant boost to the housing market. The average rate on the popular 30-year fixed-rate mortgage was down to 7.09% as of May 9, from 7.22% last week, ending five straight weekly increases, mortgage finance agency Freddie Mac said in a statement on Thursday. The decline in mortgage rates coincides with a drop in the 10-year Treasury yield following recent data showing a moderation economic and job growth.
- Associated Press Finance
Average long-term US mortgage rate snaps five-week string of increases, but remains above 7%
The average rate on a 30-year mortgage fell for the first time in four weeks, a slight relief for home shoppers already facing the challenges of rising housing prices and a shortage of homes for sale. The rate fell to 7.09% from 7.22% last week, mortgage buyer Freddie Mac said Thursday. When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much homebuyers can afford.
- GlobeNewswire
Mortgage Rates Decrease for the First Time Since March
Primary Mortgage Market Survey® U.S. weekly average mortgage rates as of 05/09/2024 MCLEAN, Va., May 09, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.09 percent. “After a five week climb, mortgage rates ticked down following a weaker than expected jobs report,” said Sam Khater, Freddie Mac’s Chief Economist. “An environment where rates continue to hover above
