Average long-term U.S. mortgage rates edged down slightly this week, though interest rates on the key 30-year home loan remain at decade-high levels.
FILE This is a home sold in Mount Lebanon, Pa., on Tuesday, Sept. 21, 2021. Average long-term U.S. mortgage rates resumed their ascent this week, Thursday, May 5, 2022, as the key 30-year loan reached its highest point since 2009. – Average long-term U.S. mortgage rates edged down slightly this week, though interest rates on the key 30-year home loan remain elevated.
The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, edged up to 4.32% from 4.31% last week. Higher borrowing rates appear to be slowing the housing market, a crucial sector of the economy. In April, sales of both existing homes and new homes showed signs of faltering, worsened by sharply higher home prices and a shrunken supply of available properties.Homeownership has become an increasingly difficult aspiration, especially for first-time buyers. Besides staggering inflation, rising mortgage rates and soaring home prices, the supply of homes for sale continues to be scarce.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus in Colorado: COVID-19 updates for May 30-June 5, 2022More than 1,447,800 people in Colorado have tested positive for COVID-19 and more than 62,800 have been hospitalized as of Monday, according to the Colorado Department of Public Health and Environment.
Read more »
Municipality of Anchorage will close Sullivan Arena shelter June 30The city cited the “significantly diminished impact” of COVID-19, lack of current emergency declarations and a cutoff date for federal funding looming as reasons to close the shelter at the end of the month.
Read more »
Shelter operations at Sullivan Arena to cease June 30Pandemic congregate shelter operations at the Sullivan Arena will end on June 30, Anchorage Mayor Dave Bronson announced on Wednesday.
Read more »
TooFab's Week In Celebrity Photos: May 30 - June 7Raven-Symoné shows some skin alongside her wife as they celebrate PrideMonth (via toofab)
Read more »
GlenAllachie Is Releasing a Second Batch of Its Limited 30-Year-Old Single Malt ScotchThe first installment of the brand's oldest expression was released last year.
Read more »