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The Independent UK
The Independent UK
National
Alex Veiga

Boost for homebuyers: Average long-term US mortgage rate eases from 7-month high to 6.71% this week

United States US Federal Reserve Freddie Mac
Copyright 2022 The Associated Press. All rights reserved

The average long-term U.S. mortgage rate eased back from a seven-month high this week, a welcome change for homebuyers navigating high borrowing costs and heightened competition for relatively few homes for sale.

Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan fell to 6.71% from 6.79% last week. A year ago, the rate averaged 5.23%.

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