From Yahoo Finance: 2025-03-27 12:05:00

The average rate on a 30-year mortgage in the U.S. dropped slightly to 6.65% from 6.67% last week, a relief for homebuyers. Rates have been declining since mid-January when they peaked at over 7%, making home ownership more affordable. In contrast, 15-year fixed-rate mortgage costs rose to 5.89% from 5.83%.

Factors influencing mortgage rates include bond market expectations on future inflation and the Federal Reserve’s interest rate decisions, with rates loosely following the 10-year Treasury yield. Economic uncertainty due to escalating tariffs on imported goods is currently helping lower mortgage rates, benefiting potential homebuyers in the spring market.

Pending home sales in the U.S. rose 2% in February from the previous month, indicating potential future sales growth, although they were down 3.6% from a year earlier. There’s typically a lag between contract signing and finalized sale, making pending home sales a predictor of future completed sales. Lawrence Yun, NAR’s chief economist, noted that contract signings remain below historical levels.



Read more at Yahoo Finance: Average US rate on a 30-year mortgage dips to 6.65% after rising for 2 weeks