Mortgage rates fall in latest week. Economists say this could mark the start of a decline in rates in 2023.
The numbers: Mortgage rates fell for the second week in a row amid expectations of inflation slowing over the rest of the year.
The 30-year fixed-rate mortgage averaged 6.35% as of May 11, according to data released by Freddie Mac on Thursday. The average rate on the 15-year mortgage fell to 5.75% from 5.76% the previous week. The 15-year was at 4.48% a year ago. What Freddie Mac said: The drop in mortgage rates is a “welcome departure from the record increases of last year,” Sam Khater, chief economist at Freddie Mac, said in a statement.
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