Mortgage trends: US 30-year rate slips to 6.27% this week; housing sales remain sluggish

Freddie Mac said on Thursday that the average rate on a 30-year mortgage slipped to 6.27% from 6.3% last week. A year ago, the rate averaged 6.44%, AP reported. The current level is just above 6.26%, last seen four weeks ago after a steady run of declines pushed borrowing costs to their lowest since early October 2024.Rates on 15-year fixed mortgages, often used by homeowners refinancing existing loans, also edged lower — dropping to 5.52% from 5.53% a week earlier. A year ago, the average stood at 5.63%, F ...