Mortgage Rates Fall but Buyers Still Face Pressure
U.S. mortgage rates ticked down after hitting a nine-month high, giving homebuyers some relief, but daily measures still show rates holding in the mid-6% area as markets weighed solid jobs numbers and new Middle East tensions. Freddie Mac reported the average 30-year fixed mortgage at 6.48% for the week ended June 4, down from 6.53% the prior week. Chief economist Sam Khater said affordability is “marginally improving.”