Mortgage rates prove interest is down.
Anna Bahney, 6-22-2023, a writer for CNN covering investments and real estate, focusing on investments in traditional, alternative, real estate and cryptocurrency markets. "Mortgage rates tick down for the third week in a row," CNN, https://www.cnn.com/2023/06/22/homes/mortgage-rates-june-22/index.html ---ML
Mortgage rates ticked lower for the third week in a row as investors absorbed strong signals from the housing industry and last week’s pause on rate hikes by the Federal Reserve after 10 consecutive hikes.
The 30-year fixed-rate mortgage averaged 6.67% in the week ending June 22, down from 6.69% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.81%.
Mortgage rates have remained over 5% for all but one week during the past year and even went as high as 7.08%, last reached in November, but have been coming down since the end of May.