Mortgage Rates Continue to Fall
15-Year Mortgage Rates Hit Lowest Point Since May 2023
Weekly Decrease of 16 Basis Points
Mortgage rates continued their downward trend on Friday, with the average 15-year fixed-rate mortgage falling 16 basis points to 5.42%. This marks the lowest point for 15-year mortgage rates since May 2023.
The decline in rates is likely due to a combination of factors, including the Federal Reserve's recent decision to lower interest rates and the ongoing trade tensions between the United States and China. These factors have led to increased demand for safe investments, such as bonds, which has put downward pressure on interest rates.
The current low mortgage rates are a great opportunity for potential homebuyers to lock in a low rate on their mortgage. However, it's important to compare rates from multiple lenders to ensure you're getting the best possible deal.
If you're considering refinancing your mortgage, the current low rates may also be a good time to explore your options. Refinancing can help you save money on your monthly payments and reduce the overall cost of your loan.
To find the best mortgage rates and compare offers from multiple lenders, visit a reputable online mortgage marketplace. These marketplaces allow you to quickly and easily compare rates from different lenders, so you can make an informed decision about your mortgage.
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