Overview

• The national average for 30-year purchase mortgage rates fell to 6.99% on Thursday, marking a second consecutive day of declines.
• Refinance rates for 30-year fixed loans also dropped to 7.14%, continuing their two-day downward trend.
• State-level disparities persist, with refinance rates ranging from 6.92%–7.08% in nine states to 7.23%–7.25% in six states.
• Other loan types, including 15-year fixed and jumbo 30-year mortgages, saw declines to 6.09% and 7.04%, respectively.
• Macroeconomic factors such as Treasury yields, Federal Reserve policy, and lender competition continue to drive mortgage rate fluctuations.