US 30-year fixed mortgage rate could break 6%

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US 30-year fixed mortgage rate could break 6%

<p>The US housing market has rapidly stalled as mortgage rates surged but there's a sliver of help on the way.</p><p>Late yesterday, Mortgage News Daily reported that US 30-year fixed rates are down to 6.07%, which is the lowest since September. Give the falling long-end yields in the past two days, we should be seeing a fall below 6% imminently.</p><p>As it stands, home construction is set to be a big drag on GDP in 2023. This week, homebuilder KB Home reported orders were down 80% in the most recent quarter along with soaring cancellation rates. A wave of other builders are set to report before month end but the market has recently grown more constructive on home builders in a sign of optimism on inflation/rates.</p>

                This article was written by Adam Button at www.forexlive.com.

Source: US 30-year fixed mortgage rate could break 6%

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