Mortgage rates in the US went down a little this week even though bond markets were unstable. Bond yields first dropped early in the week but jumped suddenly after a surprising jobs report came on Wednesday. After this jump, the Treasury market quickly adjusted, and bond yields returned to earlier lower levels within one day. Freddie Mac said the average rate for a 30-year home loan is now 6.09%. Last week, it was 6.11%, so it went down a little. In the past year, the lowest 30-year rate was 6.06%, according to Yahoo Finance. The average rate for a 15-year home loan also fell. It dropped to 5.44% from 5.50% last week.

Freddie Mac’s chief economist, Sam Khater, said the economy is strong and many people have jobs. This is helping homes become more affordable. He also said lower loan rates are bringing more buyers, and more people are applying to buy homes compared to last year.

 

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

https://m.economictimes.com/news/international/us/mortgage-rates-dip-slightly-to-6-09-as-strong-economy-and-job-market-boost-homebuyer-demand-in-2026/amp_articleshow/128271322.cms