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Lance Lambert: Average 30-year U.S. mortgage rate drops 28 bps from peak

Lance Lambert: Average 30-year U.S. mortgage rate drops 28 bps from peak
U.S. mortgage rate falls below peak

The average 30-year fixed mortgage rate in the U.S. is now 7.33 percent, down 28 basis points from this year's peak. The same day last year, the rate stood at 6.18 percent. Lance Lambert reported these figures, also noting that the 10-year Treasury yield today is 4.99 percent, with a spread of 234 basis points.

Earlier this year, 30-year fixed mortgage rates remained above 7.50 percent for 11 days, reaching 7.60 percent. At that point, Treasury yields and the spread between mortgage rates and the 10-year note were also elevated. On a separate occasion, Lambert reported mortgage rates averaging 7.56 percent with the 10-year Treasury yield at 5.28 percent.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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