Axios
The average rate on the 30-year fixed mortgage fell back under 7% this week, per Freddie Mac.
The dip is a reflection of renewed optimism that the Federal Reserve will cut rates. But rates are still very high, a continuing turn-off for would-be buyers.
Yields on 10-year Treasury bonds, which are tied to mortgage rates, dipped this week in the wake of what Axios’ Neil Irwin calls “a drumbeat of data points” that seem to show the economy is cooling.
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