Mortgage Rates Fell. The 6.5% Trap Didn’t.
U.S. mortgage rates eased from a nine-month high this week, giving homebuyers a small break but leaving borrowing costs near the level that has stalled much of the housing market. Freddie Mac said the average rate on a 30-year fixed-rate mortgage — a home loan whose interest rate stays the same for 30 years — fell to 6.48% as of June 4 from 6.53% a week earlier.
