Mortgage Rates Back Under 6%

Mortgage Rates Back Under 6%

Mortgage Rates Back Under 6% For First Time in Months, But Just Barely Mortgage rates responded favorably to yesterday's press conference with Fed Chair Powell. In the case of the ECB announcement, it was logically the European bond market that felt more upbeat. Given that US rates already experienced a fairly large move yesterday, they were somewhat resistant to the idea of going on a wild road trip toward even lower levels with their crazy European friends. US rates were nonetheless on that trip just long enough for the average 30yr fixed rate quote to touch 5.99% for top tier scenarios. For all practical purposes, that means mortgage rates are basically at 6% with some lenders quoting slightly lower and a few more lenders quoting slightly higher.

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