{"id":7402,"date":"2023-05-11T14:52:58","date_gmt":"2023-05-11T18:52:58","guid":{"rendered":"https:\/\/ifintechworld.com\/mortgage\/mortgage-rates-inch-lower-for-second-straight-week\/"},"modified":"2023-05-11T14:52:58","modified_gmt":"2023-05-11T18:52:58","slug":"mortgage-rates-inch-lower-for-second-straight-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7402","title":{"rendered":"Mortgage rates inch lower for second straight week"},"content":{"rendered":"<div><!----> <!----> <\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\"><\/div>\n<\/div>\n<\/div>\n<p>The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer Freddie Mac.<\/p>\n<p>The rate on the 30-year fixed mortgage slipped to 6.35% this week from 6.39% a week ago. One year ago, it averaged 5.3%.<\/p>\n<p>&#8220;This week\u2019s decrease continues a recent sideways trend in mortgage rates, which is a welcome departure from the record increases of last year,&#8221; said Sam Khater, Freddie Mac\u2019s chief economist.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/source><\/source><\/source><\/source><\/picture><\/div>\n<\/p><\/div>\n<p>Meanwhile, the average rate on a 15-year fixed mortgage was down slightly this week at 5.75%. Last week it averaged 5.76%. A year ago at this time, the 15-year fixed-rate mortgage averaged 4.48%.<\/p>\n<p><strong><u>IS AN ADJUSTABLE-RATE MORTGAGE A GOOD FIT FOR YOUR HOMEBUYING PLAN?<\/u><\/strong><\/p>\n<p>&#8220;While inflation remains elevated, its rate of growth has moderated and is expected to decelerate over the remainder of 2023. This should bode well for the trajectory of mortgage rates over the long-term,&#8221; Khater said.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/home-sale.jpg\" alt=\"home sales\"><\/source><\/source><\/source><\/source><\/picture><\/div>\n<\/p><\/div>\n<p>Matt Vernon, head of retail lending at Bank of America added that &#8220;The market is less frenzied as rates have moderated, and that may be impacting perception.&#8221;<\/p>\n<p><strong><u>EXPERTS FOR TOP MORTGAGE LENDERS DEBUNK BIGGEST MYTH ABOUT BIDEN&#8217;S RULE PUNISHING HOMEBUYERS WITH GOOD CREDIT<\/u><\/strong><\/p>\n<p>&#8220;Low inventory is still creating a highly competitive environment. Homebuyers are doing the right thing by taking time to understand the market, weigh their priorities and determine what fits into their budgets,&#8221; he added.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/AP23067611457083-e1678381905314.jpg\" alt=\"Fed chair Jerome Powell\"><\/source><\/source><\/source><\/source><\/picture><\/div>\n<\/p><\/div>\n<p>Many prospective homebuyers have been pushed to the sidelines during the past year as the Federal Reserve cranked up its main borrowing rate in a bid to tamp down persistent, four-decade high inflation.<\/p>\n<p><strong>CLICK HERE TO GET THE FOX BUSINESS APP<\/strong><\/p>\n<p>Shifts in the Fed\u2019s short-term lending rate don\u2019t directly affect mortgage rates, but they do influence the yield on 10-year Treasury bonds, which lenders use as a guide to pricing home loans. That\u2019s because higher rates push bonds prices lower, which then causes their yield to go up. Investors\u2019 expectations for future inflation and global demand for U.S. Treasurys also influence mortgage rates.<\/p>\n<p><i>The Associated Press contributed to this report.<\/i><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.foxbusiness.com\/real-estate\/mortgage-rates-inch-lower-for-second-straight-week\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer Freddie Mac. The rate on the 30-year fixed mortgage slipped to 6.35% this week from 6.39% a week ago. One year ago, it averaged 5.3%. &#8220;This week\u2019s decrease continues a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[246],"tags":[83],"class_list":["post-7402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage rates inch lower for second straight week | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=7402\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage rates inch lower for second straight week | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=7402\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T18:52:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/REAL-ESTATE-MARKET-SIGN-GETTY.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7402#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7402\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Mortgage rates inch lower for second straight week\",\"datePublished\":\"2023-05-11T18:52:58+00:00\",\"dateModified\":\"2023-05-11T18:52:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7402\"},\"wordCount\":361,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Mortgage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=7402#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7402\",\"url\":\"https:\/\/ifintechworld.com\/?p=7402\",\"name\":\"Mortgage rates inch lower for second straight week | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-11T18:52:58+00:00\",\"dateModified\":\"2023-05-11T18:52:58+00:00\",\"description\":\"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7402#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=7402\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7402#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage rates inch lower for second straight week\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage rates inch lower for second straight week | iFintechWorld","description":"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=7402","og_locale":"en_US","og_type":"article","og_title":"Mortgage rates inch lower for second straight week | iFintechWorld","og_description":"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer","og_url":"https:\/\/ifintechworld.com\/?p=7402","og_site_name":"iFintechWorld","article_published_time":"2023-05-11T18:52:58+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/REAL-ESTATE-MARKET-SIGN-GETTY.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=7402#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=7402"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Mortgage rates inch lower for second straight week","datePublished":"2023-05-11T18:52:58+00:00","dateModified":"2023-05-11T18:52:58+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=7402"},"wordCount":361,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Mortgage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=7402#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=7402","url":"https:\/\/ifintechworld.com\/?p=7402","name":"Mortgage rates inch lower for second straight week | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-11T18:52:58+00:00","dateModified":"2023-05-11T18:52:58+00:00","description":"The average long-term U.S. mortgage rate fell again this week to its lowest level in five weeks, according to weekly data compiled by mortgage buyer","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=7402#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=7402"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=7402#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Mortgage rates inch lower for second straight week"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7402"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7402\/revisions"}],"predecessor-version":[{"id":7403,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7402\/revisions\/7403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/4444"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}