FX.co ★ US 30-Year Mortgage Rate Eases for 4th Consecutive Week

The average rate for a 30-year fixed mortgage supported by Freddie Mac dropped by 9 basis points from the preceding week, settling at 6.26% as of September 18th. This marks the fourth consecutive week of easing, bringing rates to their lowest since early October. This decrease coincides with the sharp decline in long-term Treasury yields. Sam Khater, Freddie Mac's chief economist, stated, "Mortgage rates decreased yet again this week, prompting many homeowners to refinance. Indeed, the proportion of mortgage applications for refinancing hit nearly 60%, the highest level since January 2022."