30-year mortgage rates fall to 5.13%

in Estimated risk per 31.07.2022 10:51:00

After reaching 6.28% on June 14, 30-year mortgage rates fell to 5.13% on Friday. Mortgagenewsdaily.com. The yield on 10-year Treasury bonds fell to 2.66%, likely due to the weakening economy.

Realtor inventoryHere is a chart from Mortgagenewsdaily.com showing the 30-year mortgage rate since 2017.

Although mortgage rates have fallen sharply over the past 6 weeks, they are still much higher than at the beginning of this year.

Last year, in July 2021, 30-year mortgage rates averaged 2.87%. Freddie Mac PMMS. Thus, rates have increased by 79% compared to last year!