US Mortgage Rates Fall to 6.25%, Lowest Since September 2024
US mortgage rates fell last week to the lowest level since September 2024, a hopeful sign for the sluggish housing market to start the new year.
The contract rate on a 30-year mortgage dropped 7 basis points to 6.25% in the week ended Jan. 2, which included New Year’s Day, according to Mortgage Bankers Association data released Wednesday. The rate on a 30-year jumbo mortgage, which is used to finance purchases of more expensive homes, fell to 6.32%, the lowest since April 2023.