Mortgage rates have finally dropped for the first time in more than a month, with the average 30-year fixed-rate falling to 6.96%. Freddie Mac reported that this marks the first decline since mid-December, down from 7.04% last week. However, home prices remain rising, raising concerns about affordability as buyers face higher costs while borrowing rates are lower.
Source: https://www.bloomberg.com/news/articles/2025-01-23/mortgage-rates-in-us-drop-for-first-time-in-more-than-a-month