Real Estate
US Mortgage Rates Drop, Easing Pressure on Potential Buyers
- Buyers are moving ahead, signing more contracts in October
- Average mortgage payments are still higher than two months ago
In October, contracts to buy previously owned homes rose to a seven-month high.
Photographer: Sam Hall/BloombergThis article is for subscribers only.
Mortgage rates in the US declined, offering a bright spot for would-be homebuyers.
The average for a 30-year fixed loan was 6.81%, down from 6.84% last week, Freddie Mac said in a statement.