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Mortgage Rates Are Lower This Week. Could They Drop Further?
- Mortgage rates dropped by four basis points to 6.55% APR for 30-year fixed loans in the week ending August 20, according to NerdWallet's data from Zillow.
- The U.S. Department of the Treasury doubled its weekly bond purchases from $2 billion to $4 billion to lower long-term bond yields, which may help reduce mortgage rates.
- Pending home sales in July declined both month-over-month and year-over-year, reaching their lowest monthly level since January, influenced by rising mortgage rates and economic concerns.
- Mike Miedler, Century 21 Real Estate CEO, said that slower hiring and fewer buyers create opportunities for prepared buyers to negotiate and take more time making decisions.
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Mortgage Rates Are Lower This Week. Could They Drop Further?
Mortgage rates eased downward this week. It's a minor movement for a surprisingly busy news week — there's a lot going on at the moment that has implications for potential home buyers and refinancers.The average rate on a 30-year fixed-rate…
Coverage Details
Total News Sources27
Leaning Left3Leaning Right10Center12Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
12%
C 48%
R 40%
Factuality
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