Freddie Mac is reporting that the 30 year fixed-rate mortgage rate averaged 6.19% in the October 23 week. That is down from 6.27% last week and is the lowest since October 3 week. The 10 year yield moved to a low yesterday at 3.936% which was the lowest level going back to April 7. The yield today is back above the 4% at 4.001% currently. The low 10 year yield for the year was at 3.86% reached in April.
Earlier today existing home sales came in at 4.06 million. Although higher, it is still scraping along the recent lows.
