FOREX TradingCharts.com

Financial News: Mortgage Rates Fall For Third Week

Mortgage Rates Fall For Third Week

06/20/2024 - 16:03:00 (RTTNews)

(RTTNews) - U.S. mortgage rates decreased for a third week in a row amid signs of cooling inflation and expectations of a future Fed rate cut, the Freddie Mac Primary Mortgage Market Survey data showed Thursday.

The 30-year fixed rate mortgage averaged 6.87 percent for the week ending June 20 versus 6.95 percent in the previous week. In the same week last year, the rate was 6.67 percent.

The rate was the lowest since early April, when it was 6.82 percent. The 15-year fixed rate mortgage averaged 6.13 percent compared to 6.17 percent in the previous week. A year ago, the rate was 6.03 percent.

"Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut," Sam Khater, Freddie Mac's chief economist, said. "These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market."

Earlier this month, the <a href=https://www.rttnews.com/3453957/fed-leaves-interest-rates-unchanged-forecasts-just-one-rate-cut-this-year.aspx target=_blank >Fed left interest rates unchanged</a> and projected just one rate cut for the rest of the year.

Elsewhere on Thursday, the Commerce Department data showed that <a href=https://www.rttnews.com/3455511/u-s-housing-starts-unexpectedly-tumble-to-nearly-four-year-low-in-may.aspx?type=useco target=_blank >U.S. housing starts tumbled to a near four-year low in May</a>, mainly due to a steep drop in residential construction.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysia Economy Expands At Fastest Pace Since Late 2022 (20 min(s), 15 sec(s) ago)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story»

Eurozone Inflation Expectations Remain Unchanged (52 min(s), 15 sec(s) ago)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story»

Philly Fed Index Jumps Much More Than Expected In July (17 min(s), 15 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Philly Fed Index Indicates More Widespread Growth In July (17 min(s), 15 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Italy Current Account Surplus Rises In May (23 min(s), 15 sec(s) ago)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story»

UK Government Borrowings Overshoot Estimate (07 min(s), 45 sec(s) ago)
(RTTNews) - The bigger-than-expected UK public sector net borrowing in June highlights the challen ...Full Story»

Eurozone Current Account Surplus Remains Unchanged (01 hr(s), 15 min(s), 45 sec(s) ago)
(RTTNews) - The euro area current account surplus remained unchanged in May, the European Central ...Full Story»

Spain Trade Gap Narrows In May (01 hr(s), 24 min(s), 45 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased in May from a year ago as exports rose ami ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysia Economy Expands At Fastest Pace Since Late 2022

07/19/2024 - 08:54 AM (RTTNews)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story>>

Eurozone Inflation Expectations Remain Unchanged

07/19/2024 - 08:26 AM (RTTNews)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story>>

Philly Fed Index Indicates More Widespread Growth In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Philly Fed Index Jumps Much More Than Expected In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Italy Current Account Surplus Rises In May

07/19/2024 - 06:57 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.