Mortgage Rates Drop as Top Lenders Compete in Sub-6% Range
A Yahoo Finance survey shows mortgage rates falling, with six top lenders offering rates below 6%. Navy Federal Credit Union leads at 5.488% APR.
Topic
Latest reporting and analysis tagged with mortgage rates.
A Yahoo Finance survey shows mortgage rates falling, with six top lenders offering rates below 6%. Navy Federal Credit Union leads at 5.488% APR.
White House adviser Kevin Hassett announced a plan allowing retirement fund withdrawals for house down payments, with details to be released by President Trump next week in Davos.
Mortgage rates have dropped to their lowest in over three years, with the average 30-year fixed rate at 6.06%. Economists and AI models provide forecasts for the next five years, predicting rates to remain elevated above 6%.
U.S. mortgage rates fell sharply after President Trump ordered a $200 billion mortgage bond purchase. The Federal Housing Finance Agency confirmed Fannie Mae and Freddie Mac would execute the buys, with an initial $3 billion purchase reported. The average 30-year fixed rate dropped to 5.99% on Jan. 9. JPMorgan Chase analysts expressed skepticism about the plan's market impact.
Mortgage rates fell this week, with the 30-year fixed rate averaging 6.18%, the lowest since September 2022, according to Bankrate's survey. The drop follows a recent presidential announcement aimed at boosting mortgage-backed securities purchases.
President Trump demanded Fannie Mae and Freddie Mac purchase $200 billion in mortgage bonds via Truth Social. Experts say the move has already influenced rates, with a 20-basis-point drop observed after the announcement.
Freddie Mac reports the average 30-year fixed mortgage rate dropped to 6.06% this week, its lowest level since September 2022, potentially aiding homebuyers in a sluggish market.
Mortgage rates fell to their lowest level since September 2022 after President Trump announced a $200 billion mortgage bond purchase plan, sparking a surge in loan applications.
Zillow reports average 30-year fixed mortgage rate at 5.94%, with 15-year fixed at 5.39%. Freddie Mac typically reports slightly higher rates. Rates vary by location and loan type.