Housing Trends

Finance News

Mortgage rates continue their downward trend

The 30-year fixed-rate mortgage now averages 6.87%

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There may be some hope for homebuyers yet. Mortgage rates appear to be on a downward trend.

Freddie Mac reports mortgage rates fell for a third straight week, helped by easing inflation and less demand for mortgages. Housing starts and pending home sales have fallen over the last two months.

“These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market,” said Sam Khater, Freddie Mac’s chief economist. “Aspiring homeowner...

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