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Mortgage charges dipped as Treasury yields decreased on the again of a cooling labor market, in keeping with the Freddie Mac Main Mortgage Survey.
30-year fixed-rate mortgages averaged 6.89% as of July 11, in comparison with 6.95% final week and 6.96% within the year-ago week.
15-year fixed-rate mortgages averaged 6.17%, down from 6.25% per week in the past and 6.30% a yr in the past.
“Following June’s jobs report, which confirmed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage charges adopted swimsuit,” stated Sam Khater, Freddie Mac’s chief economist.
“We’re additionally seeing extra stock available on the market, together with a good variety of listings with value cuts, which is an encouraging signal for potential consumers,” added Khater.
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