US Mortgage Rates Drop to Lowest Level in More Than a Year

Homes in North Miami.

Photographer: Zak Bennett/Bloomberg

Mortgage rates fell to the lowest level in more than a year, easing affordability concerns for homebuyers.

The average for 30-year, fixed loans was 6.19%, down from 6.27% last week and the lowest since early October 2024, data from Freddie Mac show.