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US 30-Year Mortgage Rate Drops to 7.24%, Lowest in Over a Month

  • The average 30-year US mortgage rate has fallen to 7.24%, the lowest in over a month.
  • This marks the second consecutive week of declining mortgage rates.
  • The drop provides some relief to prospective homebuyers in a costly housing market.
  • Despite the decline, more borrowers are seeking savings in riskier loans.
  • The decrease in rates comes ahead of a Federal Reserve decision day.

Timeline

  1. Mortgage Rates Today, Monday, October 26: Back Up

    Mortgage rates increased on Monday, October 26.

  2. Mortgage Rates Today, Tuesday, October 27: Flat for Now

    Mortgage rates remained flat on Tuesday, October 27.

  3. Mortgage rates fell for the second straight week

    Mortgage rates fell for the second straight week, but demand for riskier loans increased.

  4. US Mortgage Rates Decline for Second Straight Week

    US mortgage rates declined for the second straight week, reaching 7.24%.

  5. Mortgage Rates Today, Friday, October 30: Noticeably Lower

    Mortgage rates continued to decline on Friday, October 30.

  6. Latest

    Mortgage Rates Today, Monday, November 2: Noticeably Lower

    Mortgage rates remained lower on Monday, November 2.

Economic Context

Matched from words in this story. Context, not cause.

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