Mortgage Rates Drop to Four-Week Low as Geopolitical Concerns Ease
Mortgage rates fell to a four-week low as geopolitical worries eased and the S&P 500 hit a new record high. The average 30-year fixed-rate mortgage dropped to 6.30%, marking a significant improvement from the previous year's rate of 6.83%. However, purchase activity remained subdued due to economic uncertainty.
Topics: economic trends geopolitical concerns housing market mortgage rates S&P 500