Reported about 10 hours ago
The average rate on a 30-year U.S. mortgage fell to 6.5%, marking the lowest rate since last October. This decline extends a trend that enhances purchasing power for prospective homebuyers. Additionally, rates on 15-year fixed mortgages dropped to 5.6%. Influenced by factors such as the Federal Reserve’s interest rate policy and expectations of economic shifts, the housing market continues to be sluggish, but these lower rates could attract more buyers and increase market competition.
Source: YAHOO