August 10, 2022

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Mortgage Rates Drop Below 5% for First Time Since April

Mortgage Rates Drop Below 5% for First Time Since April


Mortgage rates dropped to their lowest level since April, offering a reprieve to prospective home buyers who have been hit this year with higher rates and surging prices.

The average rate on a 30-year fixed-rate mortgage is 4.99% this week, down from 5.30% a week earlier, according to a survey by mortgage giant Freddie Mac published Thursday. Though rates remain well above their levels from a year ago, they have fallen swiftly in recent weeks from their 13-year high of 5.81% in June.

Doonited Affiliated: Syndicate News Hunt

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