Mortgage Rates in US Slide Below 7% for First Time Since August
- Freddie Mac economist says market could thaw in coming year
- Buyers are still confronting a lack of homes for sale
House hunters are still grappling with a lack of properties for sale as owners with lower rates have been reluctant to list homes.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Mortgage rates fell below 7% for the first time in four months, bringing some relief to a US housing market plagued with affordability issues.
The average for a 30-year, fixed loan was 6.95%, down from 7.03% last week, Freddie Mac said in a statement Thursday.