Mortgage rates fell yesterday for the third week in a row, reaching their lowest level in three years. The average 30-year fixed rate fell to 6.13%, driven by investor anticipation of a Federal Reserve rate cut. The decline aligns with President Trump’s pledge to reduce costs for Americans. The White House writes:
Mortgage rates have fallen to their lowest levels in three years, making the third straight week of declines as President Donald J. Trump continues to make good on his promise to lower costs for the American people.
From CNBC:
“Mortgage rates dropped sharply Tuesday, as investors in mortgage-backed bonds seemed to buy in ahead of a widely expected rate cut by the Federal Reserve.
The average rate on the 30-year fixed mortgage dropped 12 basis points from Monday to 6.13%, according to Mortgage News Daily. That is the lowest level since late 2022.”
Read more here.
