The fallout from the regional bank collapses has led to tightening lending conditions, though not on residential mortgages.
Mortgage rates continued to improve in the past week to an average rate of 6.28%, marking the fourth consecutive week of decline, according to Lawrence Yun, chief economist, for the National Association of Realtors. Compared to the recent 7% average rate peak, the latest rate saves $140 per month for a homebuyer on a $300,000 loan.