Reported 1 day ago
The average long-term mortgage rate in the U.S. has decreased to 6.17%, marking the lowest level in over a year and continuing a downward trend for the fourth consecutive week. This decrease boosts homebuyers' purchasing power and is encouraging some homeowners to refinance. The current rate is down from 6.19% last week and significantly lower than last year's average of 6.72%. Despite improved conditions, the housing market has still faced challenges, with home sales reaching their lowest levels in decades.
Source: YAHOO