Mortgage rates fell below 7% last week for the first time since March — leading to an uptick in the number of applications for loans from would-be home buyers.
The rate for a 30-year fixed mortgage fell from 7.02% to 6.94% for the week that ended June 14, according to Mortgage Bankers Association data released on Wednesday.
The five-year adjustable-rate mortgage fell to 6.27% from 6.45% — the lowest level since February, according to the data, which was first reported by Bloomberg News and MarketWatch..
Mortgage rates drop below 7% for first time since March
red blocks on brown wooden table by Tierra Mallorca is licensed under Unsplash unsplash.com
red blocks on brown wooden table by Tierra Mallorca is licensed under Unsplash unsplash.com
Source:
New York Post
