Mortgage Rates Decline for Second Consecutive Week
Mortgage rates have experienced their second straight weekly decline, according to the latest Freddie Mac Weekly Mortgage Applications Survey. The average rate for a 30-year fixed-rate mortgage fell to 7.24% as of October 29, down from 7.32% the previous week. This downward trend has provided a boost to mortgage application demand following a nearly two-month period of stagnation. While rates have improved compared to last week, they remain significantly higher than the 6.17% seen during the same period last year.
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Topics: Freddie Mac housing market mortgage rates
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Part of the story Mortgage Rates Decline for Second Consecutive Week Amid Shift Toward Adjustable-Rate Mortgages (6 articles)