Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Mortgage rates drop for second straight week to 7.02% By: FOX Business May 16, 2024 at 12:24 PM EDT Mortgage rates are down for the second week in a row, with the 30-year fixed rate averaging 7.02% and the 15-year note falling to 6.28% as the housing affordability crisis drags on. Mortgage rates declined for a second consecutive week but remain above 7% as a home affordability crisis maintains its grip on the housing market.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 7.02% this week from 7.09% last week. The average rate on a 30-year loan was 6.39% a year ago.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe average rate on the 15-year fixed mortgage also fell to 6.28% from 6.38% last week. One year ago, the rate on the 15-year fixed note averaged 5.75%. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Mortgage rates drop for second straight week to 7.02% By: FOX Business May 16, 2024 at 12:24 PM EDT Mortgage rates are down for the second week in a row, with the 30-year fixed rate averaging 7.02% and the 15-year note falling to 6.28% as the housing affordability crisis drags on. Mortgage rates declined for a second consecutive week but remain above 7% as a home affordability crisis maintains its grip on the housing market.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 7.02% this week from 7.09% last week. The average rate on a 30-year loan was 6.39% a year ago.GET FOX BUSINESS ON THE GO BY CLICKING HEREThe average rate on the 15-year fixed mortgage also fell to 6.28% from 6.38% last week. One year ago, the rate on the 15-year fixed note averaged 5.75%.