By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
The average long-term US mortgage rate falls to 7.5% in second-straight weekly drop
preview.jpg
A for sale sign stands outside a single-family home on the market on Friday, Oct. 27, 2023, in Denver. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. - photo by AP Photo/David Zalubowski
LOS ANGELES (AP) — The average rate on the benchmark 30-year home loan fell for the second week in a row, positive news for prospective homebuyers after rates touched a 22-year high just last month. The latest decline brought the average rate on a 30-year mortgage down to 7.5% from 7.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.08%.