US 30-Year Mortgage Rate Declines by Most Since February
A "For Sale" sign outside a home in California, US.
Photographer: David Paul Morris/BloombergUS mortgage rates dropped last week by the most since February, enticing homeowners to step up refinancing.
The contract rate on a 30-year mortgage declined 10 basis points to 6.67% in the week ended Aug. 8, according to Mortgage Bankers Association data released Wednesday. The rate on a 15-year mortgage retreated below 6% for the first time in four months — matching the lowest level since October.