US 30-Year Mortgage Rates Fall for 4th Week

AI Summary

The average rate for a 30-year fixed US mortgage fell 9 basis points to 7.21% in the week ending November 6, marking its fourth consecutive weekly decline. Rates are nearly 30 basis points below an almost two-year high of 7.5%, offering some relief to the housing market.

The average rate on a 30-year fixed US mortgage fell 9 basis points to 7.21% in the week ending November 6, marking a fourth consecutive weekly decline and providing some relief to the struggling housing market. Borrowing costs have dropped nearly 30 basis points from an almost two-year high of 7.5% reached early last month, ...