Reported 21 days ago
The average 30-year fixed-rate mortgage in the U.S. has fallen to 6.15%, the lowest level in two years, amid expectations of interest rate cuts by the Federal Reserve. This 14 basis point decline has spurred a surge in mortgage applications for both purchases and refinancing, as homeowners seek to take advantage of lower borrowing costs. The current rate is significantly down from previous peaks of nearly 8% and reflects the end of the Fed's rate-hiking campaign, with further cuts anticipated.
Source: YAHOO