US mortgage rates fall to nearly 4-month low - Freddie Mac

Applied Energetics

07/12/2023 17:00

Dec 7 (Reuters) - Interest rates on the most common type
of U.S. home loan fell for a sixth straight week to the lowest
in almost four months on the back of a bond market rally that
has driven down yields on the securities used to set mortgage
costs, data out Thursday showed.
    Mortgage finance giant Freddie Mac said the average rate on
a 30-year fixed rate mortgage fell to 7.03% as of Thursday from
7.22% the week before. That is the lowest since mid-August.
    Since hitting their highest levels in more than two decades
in October near 8%, mortgage rates have tumbled as bond markets
have rallied on expectations the Federal Reserve is done with
its aggressive tightening campaign to rein in inflation. 

 (Reporting By Dan Burns; Editing by Chizu Nomiyama)
 ((Daniel.Burns@thomsonreuters.com;))