fixed rate mortgage

Annual rates drop by 98 basis points

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Annual rates drop by 98 basis points

Today’s mortgage rates are significantly lower than last January’s rates. This time last year, the average 30-year fixed mortgage rate was more than 7%, according to Freddie Mac. Now, the 30-year rate is down 98 basis points year over year to 6.06%. This is a good time to shop around for the mortgage lender that … Read more

Half a point less than a year ago

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Annual rates drop by 98 basis points

Mortgage rates are half a point lower than a year ago. According to Freddie Mac, the national average of 30 years fixed mortgage this week is 6.19%. A year ago, it was an average of 6.69% The fixed rate of 15 years is 5.44%. At this time last year, it averaged 5.96%. “Mortgage rates fell … Read more