Morning Business Report: mortgage rates drop, inflation pushes prices higher
Mortgage rates fell sharply this week, marking the largest weekly drop in a year, according to mortgage buyer Freddie Mac.
(LILA MAX)- Mortgage rates fell sharply this week, marking the largest weekly drop in a year, according to mortgage buyer Freddie Mac. The latest Primary Mortgage Market Survey showed the average rate on a 30-year fixed mortgage slipped to 6.35%, down from 6.5% last week. Applications for mortgages, including refinancing, also increased. At the same time, consumers continue to face…