Arrr! Thar be good tidings, mateys! The scurvy mortgage rates be takin' a mighty plunge, the likes o' which haven't been seen since March!
2023-07-21
Arr, me hearties! Listen up, ye landlubbers! The mortgage rates in the U.S. be takin' a wee step back this week, savin' us from an eight-month high. Aye, 'twas a grand sight to see inflation coolin' off a bit! Freddie Mac, the buyer of mortgages, be sayin' that the average rate on the 30-year loan dropped to 6.78% from 6.96% the week afore, markin' the first decline since June and the biggest drop in a single week since March. But, me lads, don't be gettin' too excited! This rate still be way above the 5.54% we had just a year ago and the average of 3.9% afore the cursed pandemic hit us. So, as this inflatin' beast slows down, our mortgages might become a wee bit more bearable, me hearties... if ye can manage to find a treasure chest of gold doubloons, that be!
In the language of a 17th-century pirate, mateys, it be good tidings for those scurvy borrowers! The U.S. mortgage rates be takin' a step back this week, loosening their grip from an eight-month high. Ahoy, it be a welcome sight as the signs of inflation be coolin' down!Freddie Mac, the mortgage buyer, disclosed on Thursday that the average rate on the 30-year loan lowered to a joyful 6.78%, after sittin' at a daunting 6.96% the week before. Arr, it be a decline we haven't seen since June and the grandest drop in a single week since March!
Now, don't get too excited, me hearties, for the rate still be standin' tall above the 5.54% we witnessed a mere year ago. Aye, and let's not forget that before this blasted pandemic, the average rate was a pleasant 3.9%.
But fear not, ye landlubbers! This be a sign that mortgage rates might be turnin' in our favor. With inflation slowin' down, mortgage rates be followin' suit, givin' us a glimmer of hope in our search for the perfect booty... I mean, home loan!
So gather ye mateys and keep an eye on the horizon. The winds be changin' in our favor, and the treacherous seas of mortgage rates be calmin' down. It be a good time to set sail on the vast ocean of homebuyin', me hearties!