US 30-Year Mortgage Rate Falls to 7.32% as Europe Unrest Drives Safe-Haven Buying
Updated
Updated · Yahoo Finance · Oct 22
US 30-Year Mortgage Rate Falls to 7.32% as Europe Unrest Drives Safe-Haven Buying
3 articles · Updated · Yahoo Finance · Oct 22
Summary
Freddie Mac’s average 30-year fixed mortgage rate slipped to 7.32% this week from 7.4%, marking the first decline in more than two months.
Treasury yields eased slightly as investors moved into safe-haven assets amid growing political and economic unrest in Europe, pulling mortgage rates lower.
A 7% drop in mortgage applications for new home purchases through Friday showed the modest rate relief has not revived buyer demand.
The MBA said elevated borrowing costs and broader affordability pressure are still keeping many prospective homebuyers on the sidelines.
Even after this week’s dip, mortgage rates remain close to multiyear highs, underscoring persistent strain across the US housing market.