Reported about 1 month ago
U.S. mortgage rates have declined to their lowest level since April 2023, reaching 6.43% for a 30-year fixed mortgage. This marks the fifth consecutive weekly decrease and has led to a 3.3% increase in home purchase applications. The drop is attributed to expectations that the Federal Reserve will reduce interest rates in their upcoming meeting, although overall borrowing costs and home prices remain elevated.
Source: YAHOO