Morning Minute: Mortgage rates hit new lows for the year, Freddie Mac reports

After the Brexit vote, fixed mortgage rates in the U.S. dropped to the lowest levels so far this year, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 3.48 percent this week while the 15-year, fixed-rate averaged 2.78 percent. Read more.

“In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points. The 30-year mortgage rate declined as well, but not by as much, falling 8 basis points to 3.48 percent. This week’s survey rate is the lowest since May 2013 and only 17 basis points above the all-time low recorded in November 2012. This extremely low mortgage rate should support solid home sales and refinancing volume this summer,” said Freddie Mac Chief Economist Sean Becketti.

In other headlines:

Home shoppers! Here are 6 tips to help save for your new home – HousingWire

Pending Home Sales Skid in May – National Association of REALTORS®

6 Packing Hacks When Moving – Realtor.com (via REALTOR® Magazine Daily Real Estate News)

 

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