Today’s Mortgage Refinance Rates
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7hon MSN
Here's what's keeping home buyers on the sidelines even as mortgage rates hit a 10-month low
A lot of would-be buyers feel priced out of the housing market. Lower mortgage rates might not help move the needle.
People held back on applying for new mortgages despite rates dropping to a 10-month low, but there were other loans which benefitted.
The average rate on 30-year fixed home loans registered 6.63% for the week ending Aug. 14, down from 6.58% last week.
The 30-year fixed-rate mortgage averaged 6.66% in the week ending Aug. 14, down four basis points from the previous week.
Demand for homes can also tell us about demand for mortgages. Mortgage rates have been ticking down in recent weeks from about 6.8% a month ago for a 30-year fixed to around 6.6% today. But that hasn’t caused demand for home loans to surge. Mortgage rates have come down, but not that much.
Mortgage rates that low would be welcomed by borrowers looking to buy a home or refinance their existing mortgages.
The average rate on a 30-year U.S. mortgage has fallen to its lowest level in nearly 10 months. The average rate dropped to 6.58% from 6.63% last week, mortgage buyer Freddie Mac said Thursday.
For the 11th straight business day, mortgage rates are very close to the levels from the end of the previous day. Over the past week, however, most of these small day-to-day movements have been microscopically higher.
Mortgage interest rates just fell to their lowest point since October 2024. Here's when they could fall again.
Rates on new 30-year loans have fallen every day this week, pushing the average to a five-month low. Other major loan types have dropped as well.
The housing market is juggling mixed economic signals-ranging from stubborn shelter costs to easing mortgage rates.
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