According to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS), the average rate for a 30-year fixed mortgage in the United States decreased to 6.88% this week, down from 6.94% the previous week. This marks the fifth consecutive week of declining mortgage rates, offering some relief to prospective homebuyers amid a challenging housing market. Experts attribute the decline to easing inflation pressures and expectations of future interest rate cuts by the Federal Reserve.
U.S. Mortgage Rates Continue Downward Trend
U.S. mortgage rates have fallen for the fifth straight week, providing a glimmer of hope for homebuyers in a tight housing market.
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