US Mortgage Rates Fall to Lowest Level Since May
- Affordability remains a hurdle for many would-be homebuyers
- Higher demand pressures already-tight supply, economist says
A prospective buyer attends an open house at a home in San Francisco.
Photographer: Michaela Vatcheva/BloombergThis article is for subscribers only.
Mortgage rates in the US fell after two weeks of increases, dropping to the lowest level in almost eight months.
The average for a 30-year, fixed loan was 6.6%, the lowest since May and down from 6.66% last week, Freddie Mac said in a statement Thursday.