30-Year Mortgage Rates Decrease to 5.50%

Today, in the Calculated Risk Real Estate Newsletter: 30-Year Mortgage Rates Decrease to 5.50%

Excerpt:

After reaching 6.28% on June 14th, 30-year mortgage rates have decreased to 5.50% today according to Mortgagenewsdaily.com. The 10-year Treasury yield has fallen to 2.82%, apparently on “recession fears”, even though it is pretty clear the economy is not in a recession.

… Here is a graph from Mortgagenewsdaily.com that shows the 30-year mortgage rate since 2010. Although mortgage rates have fallen sharply over the last 2 weeks, rates are still much higher than earlier this year.
…
The sharp increase in rates in mid-June was related to a stronger than expected CPI report. Since then, inflation readings have been closer to expectations.