U.S. 30-Year Mortgage Contract Rate Falls to 7.41% Before Jobless Claims
Photo: TokenPost
The average contract rate on conforming 30-year fixed mortgages fell to 7.41% last week, providing a borrowing-cost reading before new jobless claims and the Federal Reserve’s next meeting. The rate was 7.50% the previous week, a decline of 0.09 percentage point. The latest weekly measure covers the period ended Oct. 16 and mortgages with conforming loan balances. U.S. Treasury yields moved in different directions Wednesday: the 10-year and 30-year yields edged lower, while the two-year yield edged higher. The 10-year Treasury yield serves as a benchmark for mortgage lending. The mortgage rate measures a separate, earlier period.
Source: TokenPost
