The average U.S. 30-year fixed-rate mortgage fell to 6.23% this week, a decrease from last week's 6.26%. This rate remains below the 6.81% average from one year ago, according to Freddie Mac.
The 15-year fixed-rate mortgage also declined, averaging 5.51% compared to 5.54% the previous week. The current rate is lower than the 6.10% recorded during the same period last year. The recent decrease in borrowing costs coincides with a rise in homebuyer activity, with pending home sales reaching their highest level in twelve months.
