Mortgage Rates Edge Down as Inflation Shows Signs of Easing

Recent data reveals slight decreases in 30-year and 15-year mortgage rates, offering potential relief for homebuyers and refinancers.

30-year fixed mortgage rates drop to 7.04% for purchases, 7.06% for refinances.
15-year fixed mortgage rates decrease to 6.47% for purchases, 6.51% for refinances.
Freddie Mac reports a weekly average of 7.02% for 30-year fixed-rate mortgages.
The Federal Reserve has held the benchmark rate steady at 5.25% to 5.50% since July 2023.
Cooling inflation and potential future Fed rate cuts may further reduce mortgage rates.