Average 30-year US mortgage rate falls to 6.43%, its lowest level in seven weeks
Summary
The average U.S. 30-year mortgage rate dropped to 6.43%, the lowest since mid-May, making home loans slightly cheaper. Rates have been around 6.5% for months due to global events affecting oil prices and inflation, but recent hopes for peace between the U.S. and Iran helped lower rates a bit.Key Facts
- The 30-year fixed mortgage rate fell from 6.49% last week to 6.43%.
- One year ago, the average 30-year rate was 6.67%.
- The 15-year fixed mortgage rate also dropped to 5.79% from 5.84%.
- Mortgage rates are linked to the 10-year Treasury yield, which was 4.46% this week.
- Tensions and conflict between the U.S. and Iran have influenced oil prices, inflation, and mortgage rates.
- Sales of previously owned U.S. homes declined in early 2026 compared to last year but saw some improvement by May.
- Current home sales are around 4 million annually, below the usual 5.2 million sales level.
- The housing market has been slow since mortgage rates rose from low pandemic levels in 2022.
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