From TokenPost · · 40s
U.S. Mortgage Rate Drops to 7.41% Before Jobless Claims
U.S. 30-year mortgage rate falls to 7.41% ahead of jobless claims report.
In brief
U.S. 30-year mortgage rate falls to 7.41% ahead of jobless claims report. The average contract rate on conforming 30-year fixed mortgages fell to 7.41% last week, down from 7.50% the previous week. Originally reported by TokenPost.
Mortgage Rate Drop
The average contract rate on conforming 30-year fixed mortgages fell to 7.41% last week, down from 7.50% the previous week.
Jobless Claims Report
Initial jobless claims for the week ended Oct. 17 are due Thursday, Oct. 22, with previous week's claims totaling 199,000.
Federal Reserve Meeting
The Federal Reserve’s next meeting is scheduled for Oct. 27-28, following the mortgage rate drop.
What to remember
The average contract rate on conforming 30-year fixed mortgages fell to 7.41% last week, down from 7.50% the previous week.
