Reported about 17 hours ago
Mortgage rates have dropped to their lowest in 11 months, with the average rate for a 30-year fixed mortgage at 6.35%, down from 6.5% last week, according to Freddie Mac. This decline follows disappointing job market data and anticipations of a Federal Reserve rate cut. Consequently, mortgage applications for home purchases rose by 7% weekly and 23% year-over-year, indicating increased borrower demand.
Source: YAHOO