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Mortgage rates dip as spring buying season starts
The 30 year mortgage average fell to 6.32 percent from 6.42 as Freddie Mac notes a third straight weekly decline. A year ago it stood at 4.67 percent while the 15 year rate declined to 5.56 percent. Despite lower rates, constrained supply and higher borrowing costs temper buyers amid a cooling housing market and a slowdown in GDP growth.
MENTIONED IN THIS ARTICLE
U.S
Freddie Mac
Federal Reserve
National Association of Realtors
Sam Khater
Fed
Treasury
United States
Silicon Valley Bank
Signature Bank
Oren Klachkin
Ryan Sweet
Oxford Economics
Commerce Department
FactSet