Mortgage rates fall for fifth week in a row, hover near 7%
Published On Feb 20, 2025, 1:36 PM
Mortgage rates in the U.S. have declined to an average of 6.85% for a 30-year fixed mortgage, marking the fifth consecutive week of decreases, according to Freddie Mac. This stability in mortgage rates, just below 7%, is seen as favorable for potential home buyers and sellers approaching the spring homebuying season. The 15-year fixed mortgage rate also fell to 6.04%.
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The decline in mortgage rates typically leads to increased demand for home buying and can be beneficial for companies connected to the housing market, such as home builders and real estate investment trusts (REITs). This trend may also attract investors interested in sectors related to housing and mortgages.
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