The average 30-year fixed-rate mortgage in the US decreased to 6.17% this week, marking the fourth consecutive weekly decline according to Freddie Mac. The rate is down from 6.19% last week and is below the 6.72% average from the same time last year.
The average rate for a 15-year fixed mortgage fell to 5.41%, a drop from the previous week's average of 5.44%. This continuing downward trend in borrowing costs is providing an incentive for homebuyers to enter the housing market.
