u s 30 year fixed rate mortagage average

 

What the numbers say: The average interest rate on a 30-year fixed-rate mortgage in the U.S. fell for the fifth consecutive week, but mortgage rates are still higher than they've been since the late 2000s. Relevance: Existing home sales in the U.S. fell by 17.8% from 2021 to 2022, the biggest annual decline since 2008, in part due to higher interest rates. What's next?: The Federal Reserve's rate-hiking campaign has pushed mortgage costs up, and they are unlikely to decrease anytime soon because the Fed is expected to raise rates by 25 basis points at its May meeting and policymakers have indicated that they are unlikely to cut rates this year.