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Just Above 6%: Mortgage Rates Drop To 2022 Lows

  • 12:23 PM EST

by UrbanTurf Staff

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Long-term mortgage rates are very close to dropping below 6%.

Freddie Mac reported 6.01% as the average on a 30-year mortgage on Thursday, down eight basis points from last week. It is the lowest that rates have been since September 2022. 

“This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners," said Sam Khater, Freddie Mac’s Chief Economist. "Over the past year, refinance application activity has more than doubled, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/just_above_6_mortgage_rates_drop_to_2022_lows/24339.

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