U.S. Mortgage Rates Drop to Lowest Levels Since October

The average 30-year fixed mortgage rate fell to 6.69%, reflecting a second consecutive week of declines.

The average 30-year fixed mortgage rate decreased to 6.69%, down from 6.81% the previous week, according to Freddie Mac's latest survey.
This marks the lowest level for 30-year mortgage rates since October 24, when rates stood at 6.54%.
Rates for 15-year fixed mortgages also declined, dropping to 5.96% from 6.10% last week, signaling improved refinancing opportunities for homeowners.
The Federal Reserve's recent interest rate cuts, including a 0.25% reduction in November, have contributed to easing borrowing costs for homebuyers.
Despite the decline, elevated rates and high home prices continue to challenge affordability, with U.S. home sales projected to hit their lowest levels since 1995.