Rates Hit Three-Year Low
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Mortgage rates hit lowest level in nearly 4 years, but homebuyers are still stuck on the sidelines
Mortgage rates dropped to the lowest level since 2022 last week, but demand from homebuyers declined as well, as they continue to struggle with affordability.
The rate on a 30-year fixed refinance fell to 6.38% today, according to the Mortgage Research Center. Rates averaged 5.39% for a 15-year financed mortgage and 6.06% for a 20-year financed mortgage. Related: Compare Current Refinance Rates The average rate ...
The decline in the average 30-year mortgage rate could be good news for home shoppers as the spring home-buying season gets rolling.
Mortgage rates dropped again last week, sparking a small jump in refinancing, but potential buyers were not impressed.