by Calculated Risk August 5, 2024 7:00 PM
From Matthew Graham of Mortgage News Daily: Interest rates at their lowest in more than a year
As of Friday, the average interest rate on a top-tier 30-year fixed mortgage remained at its lowest level for 2024. A slight additional decline this morning brought that figure to its lowest level since April 2023.
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Overall, interest rates have been steadily declining due to the bond market rally that began in May, driven by softening inflation and economic data and a growing willingness from the Federal Reserve to consider cutting interest rates.30-year fixed rate 6.81%)
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Tuesday:
• 8:30 a.m. ET; Trade balance report The trade deficit for June announced by the Census Bureau. The trade deficit is projected to be $72.6 billion. The U.S. trade deficit was $75.1 billion the previous month.
• 11am: New York Fed: Second Quarter Household Debt and Credit Report
