💨 Abstract

The average U.S. 30-year mortgage rate fell to 6.77%, the lowest since early May, offering some relief to prospective homebuyers. The 15-year mortgage rate also dropped to 5.89%. High rates and rising prices have slowed the housing market since 2022. Rates are influenced by factors like the Federal Reserve's policies and bond market expectations. The 10-year Treasury yield, a key indicator, was at 4.

Courtesy: WTOP Staff