30-Year Mortgage Rates Decline for Second Consecutive Week

The average rate for 30-year fixed mortgages drops to 6.74%, influenced by economic indicators and Federal Reserve policies.

Mortgage rates for 30-year fixed terms have decreased, with the current average rate at 6.74% according to Freddie Mac.
This marks the second consecutive week of declines, following a spike in late February.
Economic indicators such as the Consumer Price Index and Federal Reserve policies continue to influence mortgage rates.
Experts anticipate rates may fall further throughout 2024, but significant drops are not expected in the immediate future.
Consumers are advised to compare rates and consider refinancing options to secure the best possible terms.