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Average rate on a 30-year mortgage falls again, dips to lowest level since early October
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FILE - A development of new homes in Eagleville, Pa., is shown on April 28, 2023. - photo by AP Photo/Matt Rourke, File
The average rate on a 30-year U.S. mortgage fell again this week, echoing a decline in long-term U.S. Treasury bond yields ahead of the Federal Reserve’s first rate cut this year. The rate eased to 6.26% from 6.35% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.09%.