The average rate on a 30-year fixed-rate mortgage eased to 6.81% this week, according to Freddie Mac. This marks a slight decrease from last week's 6.83%. The rate remains close to its highest level in over two months.
This modest decline offers some welcome relief for prospective home shoppers. Mortgage rates are influenced by several factors, including the yield on U.S. 10-year Treasury bonds, which lenders use as a guide to pricing home loans.
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