By IndiaHub 
The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose. The average rate ticked up to 5.92% from 5.89% last week. It’s down from 6.28% a year ago, Freddie Mac said.
Indian government bond prices recovered from initial losses on Monday, buoyed by expectations of further monetary policy easing despite a lower-than-expected surplus transfer from the Reserve Bank of India. Traders anticipate at least 50 basis points more in rate cuts in the coming months. Investors are now awaiting India’s GDP data and the central bank’s policy decision in early June.
Mortgage rates are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations about the economy and inflation.