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U.S. mortgage rates soar to 6.3%, rising for the first time in a month
Gold Financial reports that on May 1st, U.S. mortgage rates rose for the first time in a month, and the key spring sales season has not yet accelerated. Freddie Mac reported on Thursday that the average rate for a 30-year fixed loan increased from 6.23% last week to 6.3%. A year ago, this figure was 6.76%. Since the surge in mortgage rates in 2022, the real estate market has been stagnant. Before the outbreak of the Iran war, rates had fallen below 6%, sparking hopes that the market would at least see a slight rebound. Today, geopolitical turmoil is affecting the decision-making of buyers and sellers.