Did you know that the cost of buying a house is changing? Mortgage rates, which is how much it costs to borrow money to buy a home, have been going down! This is good news for people who want to buy a new house. This means it might be a little easier to afford a home this spring.
- Mortgage rates have fallen for six weeks in a row.
- The average 30-year mortgage rate is now 6.76%, down from 6.85% last week.
- Even with lower rates, buying a house is still expensive for many people.
| Item | Number |
|---|---|
| Average 30-year mortgage rate (this week) | 6.76% |
| Average 30-year mortgage rate (last week) | 6.85% |
| Average 30-year mortgage rate (a year ago) | 6.94% |
Although rates are lower, fewer houses were sold in January. Experts are watching to see what happens with home sales in the coming months.
