Freddie Mac is reporting that the 30 year fixed-rate mortgage rate averaged 6.19% in the October 23 week. That is down from 6.27% last week and is the lowest since October 3 week. The 10 year yield moved to a low yesterday at 3.936% which was the lowest level going back to April 7. The yield today is back above the 4% at 4.001% currently. The low 10 year yield for the year was at 3.86% reached in April.
Earlier today existing home sales came in at 4.06 million. Although higher, it is still scraping along the recent lows.
This article was written by Greg Michalowski at investinglive.com.