Average rate on a US 30-year mortgage eases to 6.81%, hovering near highest level in over two months
By ALEX VEIGA, AP Business Writer
The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months.
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The rate fell to 6.81% from 6.83% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.17%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to 5.94% from 6.03% last week. It’s down from 6.44% a year ago, Freddie Mac said.
Mortgage rates are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations for future inflation.