Mortgage Rates Drop to Lowest Level in over a Year and a Half

Mortgage Rates Hit Lowest Level in Over a Year

Mortgage rates have just dropped to their lowest point in over 18 months. If you've been waiting to buy, now is the time. Even a small rate decline can significantly reduce your monthly payment, and this recent drop isn’t small.

As Sam Khater, Chief Economist at Freddie Mac, notes, “Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”

For example, a $400K loan now costs about $370 less per month compared to just a few months ago.

Bottom Line: This rate drop boosts your buying power. Let’s discuss how to take advantage of this opportunity.