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Mortgage rates in largest weekly fall in nearly 40 YEARS as inflation softens


Homebuyers will save themselves $100 a month after mortgage rates experienced their largest weekly drop since 1981. 

The 30-year fixed rate fell to 6.6 percent in the wake of softening inflation. A week ago, the rate was over seven percent whereas 12 months ago, the rate for a 30-year fixed-rate was 3.1 percent. 

According to Redfin, the drop sees new homebuyers saving themselves $100 per week. The real estate company said that the average mortgage payment in the US is down from $2,542 to $2,430. 

The Fed is trying to tame the hottest inflation in decades by making borrowing more difficult and curtailing spending. 

Several big measures of inflation have shown that prices are easing a bit, but other economic indicators show that consumers remain resilient, as does the jobs market.

The 30-year fixed rate fell to 6.6 percent in the wake of softening inflation, saving the average family $100 per month

The 30-year fixed rate fell to 6.6 percent in the wake of softening inflation, saving the average family $100 per month

Experts have warned that house prices will continue to be volatile over the next 12 months

Experts have warned that house prices will continue to be volatile…



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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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