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30 Year Fixed-Rate Mortgages Have One of the Largest Day-Over-Day Drops In History

Mortgage News Daily (MND) has reported an average 6.62% 30 year fixed-rate mortgage rate, a .6% drop from the day before.  This is one of the largest day-over-day drops in history.  MND reports daily, compared to Freddie Mac and Mortgage Bankers Association (MBA) who report weekly.  Freddie Mac reported a 7.08% average rate, and MBA reported a 7.14% average rate.  It will be interesting to see what this does to buyer demand for mortgages for home purchases. You can keep an eye on the MBA Purchase Application Index via the MBA’s weekly survey press release here: https://www.mba.org/news-and-research/newsroom.

Source:

https://www.mortgagenewsdaily.com/mortgage-rates/30-year-fixed

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