Mortgage rates dip below 7%

Mortgage rates declined for the third consecutive week, dropping below 7% for the first time in over a month amid ongoing home affordability challenges.

According to Freddie Mac’s latest Primary Mortgage Market Survey released Thursday, the average rate on a 30-year fixed mortgage fell to 6.94% from 7.02% last week.

A year ago, the rate was 6.57%, Fox Business reported.

read more: https://www.foxbusiness.com/economy/mortgage-rates-may-23-2024

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