Mortgage Rates in US Drop for First Time Since Early February
- Borrowing costs are a big hurdle for buyers, economist says
- New listings are rising in sign that inventory crunch may ease
Homes in Pinole, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US mortgage rates slipped for the first time in five weeks as buyers head into the traditionally busiest season for the housing market.
The average for a 30-year, fixed loan was 6.88%, down from 6.94% last week, Freddie Mac said in a statement Thursday.