The average 30-year fixed mortgage rate has dropped below 7%, reaching 6.98% following the latest Consumer Price Index (CPI) print. This marks the lowest rate since March 28. Despite the decline, experts suggest that significant reductions in mortgage rates may still be months away. The spread between mortgage rates and the benchmark remains at 272 basis points. Another report noted the rate at 6.97%.
Mortgage rates eased again this week — though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it's been much of this year. https://t.co/E4OkANKDks
Mortgage rates dip below 7%, but meaningful declines are still months away https://t.co/asCMUuFhzw by @RebeccaChenP
The average 30-year fixed mortgage rate comes in today at 6.97% Spread: 272 bps https://t.co/SOAohRjNtI
The 30yr mortgage rate dropped under 7%, lowest since March 28 https://t.co/rBGnZ6xpu2 https://t.co/srK0QQpktY
🚨 Back to a 6-handle The average 30-year fixed mortgage rate slips from 7.16% to 6.98% following the CPI print Spread: 272 bps https://t.co/hZJt7GVg7Y
The average rate on a 30-year fixed mortgage fell to 6.99% from 7.03% a week prior, according to Freddie Mac. Rates have hovered around 7% all year. https://t.co/zLtGhYwYnS