Real Estate
Mortgage Rates in US Plunge to the Lowest Level Since May 2023
- Decline increases purchasing power for would-be homebuyers
- Lower rates may spur more people to put properties up for sale
House hunters lured back to the market still must contend with a shortage of listings.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Mortgage rates in the US tumbled to the lowest level in more than a year, giving would-be homebuyers a break.
The average for a 30-year, fixed loan was 6.47%, the lowest since May 2023 and down from 6.73% last week, Freddie Mac said in a statement Thursday.