The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season.
The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.82%.
The average rate has mostly trended lower since reaching just over 7% in mid-January.
“The 10-year Treasury has dipped even further this morning as investors are exiting the stock market, so it’s likely that mortgage rates will continue to come down in the coming months as a result,” said Joel Berner, senior economist at Realtor.com. “This shock to the system will be felt in the housing market for the rest of the year.”
Ford discounts lineup amid tariff blitz
Ford is extending employee pricing discounts to customers on most of its U.S. lineup, including foreign-built models, just as the Trump administration imposed 25% tariffs on imported vehicles.
The “From America, For America” campaign offers what is known as “A Plan” pricing and is expected to run through June 2. It applies to Ford and Lincoln vehicles and offers savings of thousands of dollars per vehicle.
Robert Kaffl, director of U.S. sale and dealer relations, says with healthy inventory levels and sagging consumer sentiment, the Dearborn automaker is injecting some clarity for buyers — even if it’ll see its costs rise, which analysts have suggested could increase prices of vehicles.
“When we looked at where we stand today, even after a really strong March, our inventory levels are super healthy across our dealer network,” Kaffl told The Detroit News. “We also think there’s a ton of uncertainty right now that’s out in the market.
