The average U.S. mortgage rate has fallen for the fourth consecutive week, reaching its lowest level in over a year, according to Freddie Mac.

As of this week, the 30-year fixed-rate mortgage averaged 6.17%, down slightly from 6.19% the previous week and well below last year’s 6.72%. Meanwhile, the 15-year fixed rate also dipped to 5.41%, compared to 5.44% the week before.

These lower rates offer welcome news for both homebuyers and current homeowners. Buyers now have a bit more purchasing power, and homeowners considering refinancing may be able to lock in a more favorable rate than they’ve seen in months.

Freddie Mac’s data shows that the last time rates were this low was October 2024, when the 30-year mortgage dropped to 6.12%. While the difference may appear small, even a fraction of a percent can translate to thousands of dollars in savings over the life of a loan.

Mortgage rates tend to move in line with the 10-year Treasury yield, which reflects investor expectations about the economy and inflation. With the Federal Reserve signaling stability in interest rate policy, housing affordability may continue to improve heading into the new year.

If you’ve been waiting for the right time to buy or refinance, these new mortgage rates could open the door. In today’s shifting market, working with a knowledgeable real estate professional can help you navigate your best options and secure the right home at the right price.

✨ Ready to explore your buying or selling opportunities?
Contact Vacay & Co Real Estate today for a customized market evaluation and guidance on maximizing your next move.

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