Mortgage Rates Fall Again, Homebuyers Return — but Bay Area Prices Stay Above $2 Million
U.S. mortgage rates fell again this week, with the average 30-year fixed rate dropping to 6.30%, according to Freddie Mac. Mortgage applications rose 7.9% for the week ending April 17, and purchase applications jumped 10%. Pending home sales increased 1.5% in March. Median home prices in San Francisco, San Mateo, and Santa Clara counties stayed above $2 million despite the rate drop.