Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Mortgage rates fall for 4th straight week, lowest since early May
Business

Mortgage rates fall for 4th straight week, lowest since early May

Buddy DoyleBy Buddy DoyleJune 27, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Mortgage rates fall for 4th straight week, lowest since early May
Share
Facebook Twitter LinkedIn Pinterest Email

Mortgage rates fell for the fourth consecutive week to the lowest level since early May, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.77% from last week’s reading of 6.81%.

The average rate on a 30-year loan was 6.86% a year ago.

HOUSING CRISIS DEEPENS AS 47 MAJOR METRO AREAS NOW REQUIRE HOMEBUYERS TO SPEND MORE THAN 30% OF INCOME

“Borrowers should find comfort in the stability of mortgage rates, which have only fluctuated within a narrow 15-basis point range since mid-April,” said Sam Khater, Freddie Mac’s chief economist. “Although recent data show that home sales remain low, the resulting available inventory provides homebuyers with a wider range of options to consider when entering the market.”

THESE STATES WERE THE HOUSING MARKET MVPS, ACCORDING TO REALTOR.COM

The average rate on the 15-year fixed mortgage fell to 5.89% from last week’s reading of 5.96%. One year ago, the rate on the 15-year fixed note averaged 6.16%.

The lower rates, while welcome news, come as a new report said affordability in just three of America’s 50 top metro areas is such that households that make the median income can scoop up a home that will not go above 30% of their yearly earnings.

Realtor.com said it determined the three major metro areas where the 30% rule – one in which potential homebuyers limit their mortgage payment to 30% of their monthly income – remains feasible by “using a standard 20% down payment and May’s average mortgage rate of 6.82%.” It also factored in tax and insurance.

for sale sign in front of house

Those metro areas were Pittsburgh, Pennsylvania; Detroit-Warren-Dearborn, Michigan; and St. Louis, Missouri, the real estate marketplace said.

Median annual household incomes in those cities were $72,935, $72,493 and $79,869, respectively, according to the report.

Nationwide, Realtor.com found roughly 44.6% of income would be necessary for a household to be capable of financially handling a “median-priced” home.

“Earnings have risen, but homebuying costs have risen faster, which means that adhering to affordability guidelines can feel challenging if not impossible in many housing markets across the country,” said Realtor.com chief economist Danielle Hale.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous Article‘No dignity’ in socialism: NYC Mayor Adams announces re-election bid after Mamdani wins Dem primary
Next Article Top 10 Best Tactical Jacket 2021 – You Must Have

Related Articles

Nearly 3M electric motors for attic fans recalled over fire hazard concerns

Nearly 3M electric motors for attic fans recalled over fire hazard concerns

August 29, 2025
Rick Perry says Ken Paxton’s energy lawsuit will hurt US coal companies

Rick Perry says Ken Paxton’s energy lawsuit will hurt US coal companies

August 29, 2025
Cracker Barrel customers in the company’s hometown weigh in on logo: ‘If something’s not broke, don’t fix it’

Cracker Barrel customers in the company’s hometown weigh in on logo: ‘If something’s not broke, don’t fix it’

August 29, 2025
Federal Reserve Governor Lisa Cook sues Trump

Federal Reserve Governor Lisa Cook sues Trump

August 29, 2025
Cracker Barrel co-founder slams rebrand fail as ‘pitiful,’ urges chain to ‘keep it country’

Cracker Barrel co-founder slams rebrand fail as ‘pitiful,’ urges chain to ‘keep it country’

August 29, 2025
Mexico suspends package shipments to US ahead of Trump tariff deadline

Mexico suspends package shipments to US ahead of Trump tariff deadline

August 29, 2025
US economy grew at a faster pace in Q2 following Commerce Department revision

US economy grew at a faster pace in Q2 following Commerce Department revision

August 29, 2025
Popular New Jersey mall hit with lawsuit for selling clothes on Sunday

Popular New Jersey mall hit with lawsuit for selling clothes on Sunday

August 28, 2025
Country Eggs recalls cage-free products in California and Nevada following salmonella outbreak

Country Eggs recalls cage-free products in California and Nevada following salmonella outbreak

August 28, 2025
Don't Miss
Unlikely allies: Trump, Pelosi and the push to ban congressional stock trading

Unlikely allies: Trump, Pelosi and the push to ban congressional stock trading

Inside the Fort Bragg Cartel | Seth Harp

Inside the Fort Bragg Cartel | Seth Harp

Nearly 3M electric motors for attic fans recalled over fire hazard concerns

Nearly 3M electric motors for attic fans recalled over fire hazard concerns

Ex-Jets star Mo Lewis defends infamous tackle, blames Drew Bledsoe for sparking Tom Brady’s historic NFL rise

Ex-Jets star Mo Lewis defends infamous tackle, blames Drew Bledsoe for sparking Tom Brady’s historic NFL rise

Latest News
8 BADASS GUNS JUST APPROVED BY TRUMP 2025 – The New List

8 BADASS GUNS JUST APPROVED BY TRUMP 2025 – The New List

August 29, 2025
Justice Department launches probe of California EPA over alleged diversity-based hiring practices

Justice Department launches probe of California EPA over alleged diversity-based hiring practices

August 29, 2025
Rick Perry says Ken Paxton’s energy lawsuit will hurt US coal companies

Rick Perry says Ken Paxton’s energy lawsuit will hurt US coal companies

August 29, 2025
What did Obama know about the Trump–Russia probe? And when did he know it?

What did Obama know about the Trump–Russia probe? And when did he know it?

August 29, 2025
TikTok star Emilie Kiser says she ‘takes full accountability’ after young son’s tragic death

TikTok star Emilie Kiser says she ‘takes full accountability’ after young son’s tragic death

August 29, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.