Bloomberg - US mortgage rates slid last week to one of the lowest levels in years, sparking a flurry of purchase and refinancing activity that offers hope for a plodding housing market. The contract rate on a 30-year mortgage dropped 7 basis points to 6.18% in the week ended Jan. 9, according to Mortgage Bankers Association data released Wednesday. That’s the lowest reading since September 2024 and one of the lowest since 2022.
The figures from the industry group lend credence to Trump administration data out Tuesday showing the annualized pace of new-home sales in October was near the strongest since 2023. The numbers arguably illustrate some relief for a housing market that’s been battered by poor affordability in recent years.
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