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Average mortgage rates dip for 4th week – Honolulu, Hawaii

Honolulu, Hawaii 2021-07-22 14:45:00 –

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Washington >> Mortgage rates have fallen for the fourth straight week. This was weakened by concerns that the proliferation of delta coronaviruses and worsening pandemics in hotspots around the world could undermine the strong economic recovery to date.

Mortgage buyer Freddie Mac today reported that the 30-year average of mortgages fell from 2.88% last week to 2.78%, down from this year’s peak of 3.18% in April. The key rate was 3.01% a year ago.

Interest rates on 15-year mortgages, which are popular for refinancing mortgages, fell from 2.22% last week to 2.12%.

Concerns over the potential impact of the pandemic on the recovery spurred a defeat in the global market on Monday, with the Dow Jones Industrial Average falling 2.1%. The stocks of the companies most affected by the potential COVID-19 restrictions supported some of the biggest losses. Financial markets have shown signs of heightened concern for some time, but the US stock market has generally remained resilient.

Many homebuyers were unable to take advantage of ultra-low mortgage rates due to tight supply of homes and high prices. The National Real Estate Agents Association today recorded a fourth straight month of losses as sales of previously occupied homes increased in June, while strong demand for luxury properties and low mortgage rates renewed prices. I reported that it pushed up to a high price.

The government reported today that the number of Americans seeking unemployment has increased last week from the pandemic’s lowest point, even though the employment market appears to be recovering due to the reopening economic forces. Unemployed billing increased from 368,000 last week to 419,000, the highest in two months.

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Average mortgage rates dip for 4th week Source link Average mortgage rates dip for 4th week

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