US Mortgage Rates Dropped To Lowest Level In 4 Months (UK Mortgages With Rates Below 1% Heats Up)

by confoundedinterest17

(Bloomberg) — Mortgage rates in the U.S. dropped to the lowest level in four months.

The average for a 30-year loan was 2.93%, down from 2.96% last week and lowest since Feb. 18, Freddie Mac said Thursday.

“Mortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, chief economist at Freddie Mac said in a statement.

Then we have this news from the UK: Competition to Offer Mortgages With Rates Below 1% Heats Up

June 17 (Press Association) — HSBC UK has unveiled a mortgage rate below 1% for the first time in nearly five years for the bank.

It has also cut the rates on various deals across its range, including those offered for people with 5% deposits under the Government-backed mortgage guarantee scheme.

Among the new deals are a two-year fixed-rate deal at 0.99%. Borrowers will need a 40% deposit and the mortgage has a £999 fee.

On the Treasury side, the 5Y30Y slope is falling like a paralyzed falcon.