Friday, July 29, 2022

The Fed rate increase hasn't hit the mortgage rate yet.

July 28, 2022
By Alisa Wolfson

This is Fred 30 year fixed rate (click here).

Mortgage rates are dipping. (click here) Back in June, 30-year fixed rates hit 6%, but this month we have watched them fall. Indeed, 30-year fixed mortgages decreased to 5.60%, which is the lowest in weeks, according to the latest Bankrate data from July 28. Meanwhile, the national average for 15-year fixed-rate mortgage loans declined to 4.89%.