Average long-term US mortgage rate dips to 6.17%, its lowest level in more than a year

Mortgage rates hit a 13-month low, offering favorable conditions for homebuyers and refinancers. The average 30-year rate dropped to 6.17%, and 15-year rates fell to 5.41%. This trend, influenced by factors like the Federal Reserve's interest rates and the ten-year Treasury yield, could lead to increased home purchases and refinancing opportunities, shaping an exciting time in the housing market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.