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U.S. mortgage rates drop again (See where they stand)

  • The average 30-year mortgage rate in the U.S. Fell to 6.76% this week, down from 6.81% last week according to Freddie Mac.
  • This decline occurred during the busiest season for the housing market and contrasts with last year's 7.22% rate, providing modest relief for buyers.
  • Interest rates for 15-year fixed mortgages, which are commonly chosen by homeowners looking to refinance, declined slightly to 5.92% from 5.94%.
  • Mortgage rates reflect influences from global demand for U.S. Treasurys, Federal Reserve policies, and investors' inflation expectations, which affect homebuyers' purchasing power.
  • The rate declines suggest enhanced affordability for homebuyers during peak market activity and may encourage increased refinancing and purchasing decisions.
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Mortgage Solutions broke the news in on Wednesday, April 30, 2025.
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