Mortgage Rates Drop Below 6%

Mortgage rates have dropped to their lowest point in months.

The current average rate for a 30-year fixed mortgage is 5.99%, dipping below 6% for the first time since September.

A statement from the Federal Reserve that inflation had “eased somewhat” sent mortgage rates dropping by nearly a quarter-point this week – despite the Fed raising interest rates on Wednesday.

Overall rates have dropped more than a point of October’s peak of 7.37%.

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