Mortgage Rates Eased in June, Applications Down: Redfin
Balance is returning to the housing market, with sellers dropping prices “at a record rate,” mortgage rates easing and price growth slowing, reported Redfin Friday for the four weeks ended July 3. Homebuyers are seeing the housing shortage ease, competition…
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decline and mortgage rates drop from their 2022 high, it said. For the week ending July 7, 30-year-mortgage rates fell to 5.3%, the largest one-week drop since 2008; they were down from a 2022 high of 5.8% but up from 3.1% at the start of the year, Redfin said. Mortgage applications were down 17% year on year in the week ending July 1, it said.