As long as inflation continues to slow, mortgage rates should ease throughout the remainder of 2024, improving affordability for hopeful homebuyers.
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15-Year Fixed Mortgage Rates Go Down (-0.41%)The average 15-year mortgage rate is 5.66%, 41 basis points lower than last week.
Mortgage Refinance Rates30-Year Fixed Refinance Rates Decrease (-0.39%)The average 30-year refinance rate is 7.45%, 39 basis points down from last week.
Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.
Persons:
you'll, It's, refinance
Organizations:
Federal, of Labor Statistics, Zillow, FHA
Locations:
Chevron