Mortgage Rates Drop Down Once Again

The average 30-year-fixed rate fell to 6.46% last week, which is down from 6.49%.

Mortgage rates have dropped once again.

The average 30-year-fixed rate fell to 6.46% last week, which is down from 6.49%.

A year ago, the average rate on a 30-year-fixed rate loan was 7.23%.

In addition, the average rate for a 15-year-fixed mortgage rate is 5.62% which is down from 5.66%.

The rate on a 15-year loan a year ago was 6.55%.

Over the past few weeks, the housing market has hinted that the Fed could start cutting interest rates. However, that is not set in stone as fed continue to fight inflation in attempt to get it down to around the goal of 2%.