Mortgage rates continue recent sideways trend: Freddie Mac
Housing Wire
MAY 11, 2023
This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Rates reflected a moderation in inflation and the banking crisis, and the consequent expectation that the Federal Reserve ( Fed ) is done hiking the federal funds rate. Per Freddie Mac ‘s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.35% as of May 11, down four basis points from last week’s 6.39%.
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