Mortgage rates fall to lowest level in over 18 months

Mortgage rates have dropped to their lowest in over a year and a half, with the average 30-year fixed mortgage rate falling to 6.20% from 6.35% two weeks ago, according to Freddie Mac.

Despite this decline, high home prices and low inventory are keeping many potential buyers and sellers out of the market.

The average rate on a 15-year fixed mortgage also decreased to 5.27%, Fox Business has reported.

read more: https://www.foxbusiness.com/economy/mortgage-rates-september-12-2024

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