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The Independent UK
The Independent UK
National
Alex Veiga

The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September

United States Freddie Mac Housing Market
Copyright 2023 The Associated Press. All rights reserved.

The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market.

The latest decline brought the average rate on a 30-year mortgage down to 7.22% from 7.29% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.49%.

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