Average mortgage interest rates in America fell to their lowest levels in 7 weeks

The average interest rate for 30-year mortgage loans in the United States fell this week to its lowest levels since mid-May, which reduces the cost of borrowing for potential home buyers.
Freddie Mac Real Estate Finance Corporation reported on Thursday that the average interest rate on 30-year mortgage loans declined this week to 6.43%, compared to 6.49% last week and 6.67% during the same period last year.
Despite this slight decline, the average interest rate fell to its lowest levels since May 14, when it recorded 6.36%.
At the same time, the average interest rate for 15-year loans preferred by homeowners to refinance their loans fell to 5.79% during the current week, compared to 5.84% last week and 5.8% during the same week last year, according to Freddie Mac.
It is noteworthy that the interest of real estate financing loans is affected by several factors, starting from the interest rate policy decisions taken by the US Federal Reserve (Central Bank) to the expectations of investors in the bond market regarding economic growth and the inflation rate. Mortgage interest rates usually follow the path of the 10-year US Treasury bond yield, which financial institutions use as an indicator to determine home loan rates.