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Mortgage rates fall to 10-month low

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5 days ago

Mortgage rates fell to a 10-month low, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.56% from last week's reading of 6.58%.The average rate on a 30-year loan was 6.35% a year ago.ONLY 28% OF US HOMES NOW AFFORDABLE FOR TYPICAL AMERICAN HOUSEHOLD AS BUYING POWER DROPS"Purchase demand continues to rise on the back of lower rates and solid economic growth," said Sam Khater, Freddie Mac’s chief economist. "Though many potential homebuyers still face affordabi...

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