This week's news is about mortgage rates, which is how much it costs to borrow money to buy a house. Mortgage rates went down a tiny bit! This is important because it affects how many people can buy homes.
- Mortgage rates are still high, around 7% for a 30-year loan.
- Fewer people are applying for home loans because rates are high.
- Some experts think that lower rates might help more people buy homes this spring.
| Type of Mortgage | Rate This Week |
|---|---|
| 30-Year | 6.85% |
| 15-Year | 6.04% |
