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Mortgage Rates Fluctuate in May 2023.

1 min read
Source: Investopedia
Mortgage Rates Fluctuate in May 2023.
Photo: Investopedia
TL;DR

Mortgage rates dropped on Wednesday, with the 30-year average falling by an eighth of a percentage point to 6.81%, the lowest level since April 14. The 15-year rate average also dropped by a full quarter point to 5.96%. Refinancing averages moved similarly to new purchase rates, with the 30-year refi average declining by 21 basis points. The jumbo 30-year average held steady at 6.02%. The Federal Reserve's bond-buying policy is a major influencer on mortgage rates, and the next scheduled meeting of the Federal Open Market Committee is in June.

Topics:businessfinance#30-year-fixed#federal-reserve#finance#jumbo-loans#mortgage-rates#refinancing
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  1. Today's Mortgage Rates & Trends - May 4, 2023: Rates Drop  Investopedia
  2. Mortgage rates slide, but other challenges remain for homebuyers  Yahoo Finance
  3. Homebuyers to face steep borrowing costs despite Fed move  The Washington Post
  4. Today's best mortgage deal? 15-year terms hit lowest rate since mid-April | May 5, 2023  Fox Business
  5. Mortgage Rates Today: May 5, 2023—Rates Remain Fairly Steady  Forbes

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