U.S. mortgage rates hovered near 6% today, with the average 30-year fixed rate inching up to 6.11%, according to Freddie Mac’s weekly report out Thursday. “For the last several weeks, the 30-year fixed-rate mortgage has remained at its lowest level in years,” said Sam Khater, Freddie Mac’s chief economist.

The steady print holds weight as the spring selling season approaches, where slight shifts in financing costs can sway monthly payments for first-time buyers and either spark or stall refinance activity.

Rates remain driven by the bond market. On Feb. 6, the 10-year U.S. Treasury yield—a crucial benchmark for home loan pricing—hovered near 4.19%. This followed a series of weaker labor reports, nudging investors to bet on rate cuts down the line.

 

To continue reading the rest of the article, please click on the source link below

Mortgage rates today hover near 6% as Treasury auctions loom; Rocket stock ticks up premarket