US mortgage rates declined last week to the lowest level in more than two months, extending a recent plunge that is providing modest relief to a weakened housing market
US mortgage rates jumped to a 16-year high of 6.75%, marking the seventh-straight weekly increase and spurring the worst slump in home loan applications since the depths of the pandemic
The average for a 30-year loan slipped to 5.3% 5.54% last week, Freddie Mac said Thursday in a statement. Thats a level last seen the week of July 7.