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Housingsupply | Beach Road Realty Inc Blog

Monday, September 11, 2023   /   by Richard Eimers

Average Long-Term U.S. Mortgage Rate Fell to 7.12%

However, the 30-year fixed-rate mortgage remains near the 22-year high it hit three weeks ago. Last week, it was 7.18%.

LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell again this week but remains near the 22-year high it hit three weeks ago, offering little relief for house hunters facing persistently high prices and a near-historic low number of homes for sale.
Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan fell to 7.12% from 7.18% last week. A year ago, the rate averaged 5.89%.
The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, fell to 6.52% from 6.55% last week. A year ago, it averaged 5.16%, Freddie Mac said.
High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already unaffordable to many Americans. They also discourage homeowners who locked in low rates two years a ...

  beach road realty, eimers group, richard eimers, mortgagerates, housingmarket, homebuyers, interestrates, realestate, propertyprices, usmortgages, federalreserve, economicdata, inflation, housingsupply

Beach Road Realty Inc
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

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