Mortgage rates fall slightly to 6.86%
Former Federal Reserve Bank of St. Louis President and CEO James Bullard looks ahead to the next rate decision, unpacks jobs data and reacts to Yellens housing development.
Mortgage rates were mixed this week with the standard 30-year note declining slightly for the fourth consecutive reading, while shorter-term rates ticked up a bit.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.86% this week from 6.87% last week. The average rate on a 30-year loan was 6.71% a year ago.
A for sale sign hangs in front of a home on Aug. 22, 2023, in San Mateo County, California. ( Liu Guanguan/China News Service/VCG via Getty Images / Getty Images)
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The average rate on the 15-year fixed mortgage, on the other hand, increased to 6.16% from 6.13% last week. One year ago, the rate on the 15-year fixed note averaged 6.06%.
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