Reported 14 days ago
The average rate on a 30-year U.S. mortgage has decreased to 6.27%, edging closer to its lowest point for 2025, according to Freddie Mac. This rate marks a decline from 6.3% the previous week and 6.44% a year ago. Borrowing costs are also dropping for 15-year fixed mortgages, now at 5.52%. Influenced by the Federal Reserve’s interest rate policies, mortgage rates have been on a downward trend since July. Despite expectations of future rate cuts, experts caution that rates may not fall significantly, potentially leading to higher home prices for buyers who delay their purchases.
Source: YAHOO