Mortgage Rates Drop for 3rd Consecutive Week

Buyers find slight relief as spring season approaches
By Newser.AI Read our AI policy
Posted Feb 6, 2025 1:06 PM CST
Mortgage Rates Drop for 3rd Consecutive Week
A "For Sale" sign is displayed in front of a home in Evanston, Ill., Tuesday, July 2, 2024.   (AP Photo/Nam Y. Huh)

The US is seeing a continued decline in mortgage rates, providing some relief to prospective homebuyers and current homeowners considering refinancing. Freddie Mac reports that the average rate for a 30-year mortgage has decreased from 6.95% to 6.89% over the past week; the average rate stood at 6.64% a year ago. Similarly, 15-year fixed-rate mortgages have seen rates fall from 6.12% to 6.05%, slightly higher than last year's 5.9%.

These rates are influenced by broader economic factors, including the bond market's reaction to the Federal Reserve's interest rate policies and the 10-year Treasury yield, which has been rising since a dip last September. (This story was generated by Newser's AI chatbot. Source: the AP)

<
>
Burglars Snap Selfies With Loot From Joe Burrow's Home
On Third Auction Try, Suu Kyi's Home Attracts Zero Bids
Louisiana Court Upholds LSU Professor's Suspension for Offensive Remarks
Senate Offices Flooded With Calls Amid Trump Cabinet Controversies
Baltimore Mayor Defies Trump's DEI Criticisms With 'Definitely Earned It'
Mexico Deploys 10K Troops to Northern Border After US Pressure
Oregon Truck Driver Guilty of Manslaughter in Crash That Killed 7
Frequent Earthquakes Rattle Santorini, Spark Evacuations. Precautions
DC Figure Skating Event to Honor Crash Victims
Cynthia Erivo Honored as Harvard's Hasty Pudding Woman of the Year
Second Employee Dies in Ohio Warehouse Shooting
Egypt on Trump's Plan for Palestinian Relocation: No
Jenni Hermoso Pressured to Downplay Kiss, Court Hears
Vonn Hits Gate, Doesn't Finish in World Championships Return
Iran Launches Its First Drone-Carrier Warship
With a Year to Go, Italy Readies for 2026 Winter Olympics
Lauren Macuga Does What Vonn, Shiffrin Didn't
Legendary Saxophonist Gene "Daddy G" Barge Dies at 98
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X