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Podcast: γ¬γ’γΈγ§γθ±δΌθ©± Daily News Article Podcast
Episode: Average US long-term mortgage rate hits the lowest point in more than 3 years
Description: The average long-term U.S. mortgage rate is now down to its lowest level in more than three years. The benchmark 30-year fixed rate mortgage eased to 6.06%, down from 6.16%, mortgage buyer Freddie Mac said. One year ago, the rate averaged 7.04%.
The last time the average rate was lower was September 15, 2022, when it was at 6.02%. Meanwhile, borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell, dropping to 5.38% from 5.46% last month. A year ago, that average rate was at 6.27%, Freddie Mac said.
Lower mortgage rates boost homebuyers' purchasing power, good news for home shoppers at a...