The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year.
The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year.
Lower mortgage rates boost homebuyers’ purchasing power. They also benefit homeowners eager to refinance their current home loan to a more attractive rate.
The average long-term mortgage rate dropped to 6.17% from 6.19% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.72%.
The last time the average rate was lower was on Oct.
