Hey kids! Did you know that the cost of borrowing money to buy a house (mortgage rates) has been going down a bit lately? This is good news for people wanting to buy a home. It means their monthly payments might be a little lower.
- Mortgage rates are the interest you pay when borrowing money for a house.
- Rates have dropped slightly in the past few weeks.
- Experts think rates will stay about the same for a while.
| Mortgage Type | Rate (approx.) |
|---|---|
| 30-year fixed | 6.85% |
| 15-year fixed | 6.04% |
Remember, these are just averages and might change.
