Mortgage rates have been declining over the past two months, offering some relief to homebuyers. For the fourth consecutive week, mortgage rates fell, bringing hope for a successful spring home-buying season.
According to data from Freddie Mac, the average 30-year fixed-rate mortgage rate dropped 2 basis points to 6.87%. This is the lowest level since December 26, 2024. The decrease in mortgage rates may motivate more people to buy or refinance homes during the peak spring season, which typically sees a surge in home sales.
Source: https://www.marketwatch.com/story/mortgage-rates-dip-to-lowest-level-of-2025-lifting-hopes-for-spring-home-buying-season-2c45cd19