Mortgage rates fell for the first time in nearly two months. The average rate on a 30-year fixed mortgage edged down to 7.76% this week from 7.79% a week ago, according to Freddie Mac data released Thursday.
Since rates last dipped in early September, borrowing costs for home loans have jumped by roughly two-thirds of a percentage point, setting fresh generational highs. Surging rates have been the key factor that has slowed the housing market to a crawl and put many mortgage companies in dire straits. Mortgage rates tend to roughly follow the yield on the benchmark 10-year Treasury note, which has reversed course and started falling since hitting 5% last week.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Today: Dow ends higher, but can't escape 3rd monthly loss; Fed eyedStock Market Today: Dow ends higher, but can't escape 3rd monthly loss; Fed eyed
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: Dow holds gains, Treasury yields drop as Fed leaves rates unchangedLive coverage of a major day for the U.S. stock market with Treasury refunding and a Fed decision.
Source: MarketWatch - 🏆 3. / 97 Read more »
Stock Market Today: Dow ends higher as Treasury yields dive after Fed pauses againStock Market Today: Dow ends higher as Treasury yields dive after Fed pauses again
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market News, Nov. 1, 2023: Stocks Close Higher After Fed Keeps Interest Rates UnchangedNasdaq leads indexes higher; Dow up more than 200 points
Source: WSJ - 🏆 98. / 63 Read more »
Netflix Inc. stock rises Tuesday, still underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »
Bank of America Corp. stock rises Tuesday, outperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »