Mortgage rates fell to the lowest level in 19 months, as the market expects the Federal Reserve to cut rates next week. Should home buyers and homeowners act now and lock in a rate? Should they refinance? Or should they wait for the Federal Reserve to officially announce a rate cut? Experts are divided.

Mortgage rates keep sinking—with the 30-year and 15-year averages falling to their cheapest levels since February 2023. Rates inched lower for many other loan types as well.

The average rate on 30-year mortgages, the most popular home loan in the United States, dropped to 6.2 percent this week, Freddie Mac reported on Thursday. The decline, from 6.35 percent a week earlier, left rates more than half a percentage point lower than six weeks ago.

Mortgage rates in the U.S. dropped to the lowest since February 2023. The average for a 30-year, fixed loan was 6.2%, down from 6.35% a week earlier, Freddie Mac said in a statement Thursday.

Key Takeaways Rates dropped to 6.29% for the 30-year, fixed-rate mortgage, the lowest rate measured by the Mortgage Brokers Association (MBA) since February 2023.Mortgage rates are down nearly three-quarters of a percentage point since July.

I f the state of inflation dictates where interest rates lie, borrowers got some welcome news on Thursday when the Bureau of Labor Statistics announced yet another drop in the inf

Mortgages are still much higher than they were prior to the pandemic, as 30-year fixed mortgage rates never topped 6% from 2009 to 2021.

Rates on 30-year mortgage refinance loans dropped another 3 basis points Friday, to an average of 6.41%. That's now the cheapest 30-year refi average since February 6, 2023.