Good news for people wanting to buy a house! Mortgage rates (the interest you pay on a home loan) have been dropping for six weeks in a row. This means that it might be a little easier for some families to buy a home.
- Mortgage rates are lower than they were a few months ago.
- Lower rates make it cheaper to buy a house.
- This could help the housing market, which has been slow lately.
| Fact | Number |
|---|---|
| Average 30-year mortgage rate (Feb 27) | 6.76% |
| Rate decrease from previous week | 9 basis points |
| Drop in home purchase contracts (January) | 4.6% |
