U.S. 30-year mortgage rates drop below 4%: Freddie Mac

NEW YORK - Interest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first time since January 2018 in step with declining U.S. bond yields due to growing trade tension between China and the United States, Freddie Mac said on Thursday.

Thirty-year mortgage rates averaged 3.99% in the week ended May 30, down from 4.06% a week earlier and 4.56% a year ago, the mortgage finance agency said. Interest rates on five-year adjustable mortgages averaged 3.60%, down from 3.68% the prior week and 3.80% from the year before. Jitters about flagging business activities around the world spurred a safe-haven stampede for longer-dated U.S. government debt, sending 10-year Treasury yields to 2.21% on Wednesday, their lowest level since September 2017.

Now if we could just find a buyer....Who would want to live in a 2,000 sq. ft. house if you can get a 1,200 sf condo for more$$$

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In China's Baoshang debt repayment, haircuts of 30% possible: sourcesChinese regulators have issued instructions for the repayment of debts owed by C... Is haircuts a common term for debt trimming/cutting and this is just the first time I've heard it? Because I was confused by that headline. So regulators are keen on 90 % principal ,thats good.
Source: Reuters - 🏆 2. / 97 Read more »