Card: FinFly.news.
The average US 30-year fixed mortgage rate fell to 7.32% from 7.40% a week earlier. It stood at 6.19% a year ago, according to Freddie Mac’s October 22 survey.
The weekly decline amounts to 0.08 percentage points. It makes new borrowing slightly cheaper without reversing the increase from last year.
FinFly calculates that a hypothetical $300,000 loan over 30 years would have a monthly principal-and-interest payment of roughly $2,061 rather than $2,077, a reduction of about $16. Taxes, insurance and fees are excluded.
This is an illustration of interest-rate sensitivity, not a lending offer. A national average does not guarantee the terms available to an individual borrower; the relevant comparison is the full cost of their actual loan.