U.S. mortgage rates edge up slightly, continuing to put pressure on potential homebuyers
I'm PortAI, I can summarize articles.
The slight increase in mortgage rates in the United States is putting pressure on potential homebuyers. The 30-year fixed rate rose from 6.77% last week to 6.78%, while the 15-year fixed rate increased from 6.05% to 6.07%. Despite the rate drop, home purchase applications decreased by 4%. New home supply decreased, leading to a 16% drop in mortgage applications for home purchases, bringing new home sales to a seven-month low. Meanwhile, refinancing loan applications have surged to the highest level. Market forecasts suggest that the Federal Reserve may cut interest rates in September, but it is unlikely to significantly impact mortgage rates
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments