Mortgage rates dropped again this week, after plunging nearly half a percentage point last week
The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation. But last week, rates tumbled amid reports that indicated inflation may have finally reached its peak.
“This could mean that mortgage rates may climb again, and that risk goes up if next month’s inflation reading comes in on the higher side,” Hale said. Window of opportunity for borrowers While it’s difficult to time the market in order to get a low mortgage rate, plenty of would-be homebuyers are seeing a window of opportunity.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First on CNN: White House kicking off six-week Covid-19 booster push | CNN PoliticsThe Biden administration is launching a critical, six-week push aimed at stepping up Americans’ Covid-19 booster vaccinations heading into the holiday season.
Read more »
Watch: CNN analysts break down what could be revealed in Trump's tax returns | CNN PoliticsCNN legal analyst Norm Eisen and CNN senior law enforcement analyst and former FBI Deputy Director Andrew McCabe break down the implications of the Supreme Court ruling that cleared the way for Congress to obtain former President Donald Trump's tax returns.
Read more »
Watch: Father and siblings of Idaho victim speak to CNN about investigation - CNN VideoThe father and siblings of Kaylee Goncalves, one of the four University of Idaho students found dead in an off-campus residence, spoke with CNN's jimsciutto about the ongoing investigation into the killings. Watch:
Read more »
US Freight rail strike could cost US economy $1 billion in first week | CNN BusinessA US freight rail strike could cost the US economy $1 billion in the first week of the strike, according to a new analysis from the Anderson Economic Group.
Read more »
House Republicans say TikTok made misleading claims in briefings on data handling | CNN BusinessThe letter reflects the latest escalation by US lawmakers as they scrutinize TikTok’s potential impact on national security. And it foreshadows how House Republicans, having gained a majority in the midterms, are likely to approach TikTok in coming months.
Read more »
Russia threatens to cut supply of gas through Ukraine | CNN BusinessEurope is bracing itself for further cuts to its supply of Russian natural gas as Moscow threatens to slash flows to Moldova, a country on Ukraine’s southwestern border.
Read more »