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Rates Fall to 6.78% From 6.96%
Mortgage rates dropped for the first time since March 2023, on Thursday July 20th, 2023 per Freddie Mac. Par rates on 30-year fixed-rate conforming loans on single-family homes dropped to 6.78% from last week’s 6.96%. The drop in rates is the first decrease in mortgage rates since June and the largest single day decrease since March of this year. Mortgage rates one year today was at 5.54% and under 4.0% prior to the coronavirus outbreak. Conventional loans with loan-level price adjustments for average credit score borrowers often surpasses the 8% rate mark.
- This discussion was modified 8 months ago by Sapna.
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