Mortgage Rates Drop to Lowest Point in a Year
The Pro Builder
SEPTEMBER 3, 2024
In a housing market where home prices remain near record highs, lower mortgage rates could provide some relief to prospective homebuyers. According to ABC News, the average rate on a 30-year mortgage has recently decreased to 6.35%, the lowest level in over a year. A year ago, the rate was at 7.18%. Similarly, the average rate for a 15-year fixed-rate mortgage, often favored by those looking to refinance, has fallen to 5.51%, compared with 6.55% a year ago.
Let's personalize your content