Overview

• The average 30-year fixed-rate mortgage has declined to 5.89%, the lowest since September 2022.
• Current 15-year fixed-rate mortgages have also dropped below 5%, reaching 4.97%.
• Jumbo 30-year mortgage rates now average 6.30%, their lowest since February 2023.
• States like Washington, California, and Texas have the lowest average 30-year rates, ranging from 5.77% to 5.82%.
• The Federal Reserve is expected to announce rate cuts as inflation cools, potentially influencing future mortgage rates.