U.S. Mortgage Rates Drop to Lowest Level in Three Years
Mortgage rates in the United States have fallen to their lowest point in three years, marking the third consecutive week of declines as President Donald J. Trump continues efforts to reduce costs for Americans.
According to CNBC, rates fell sharply on Tuesday as investors in mortgage-backed securities moved ahead of an anticipated Federal Reserve rate cut.
Data from Mortgage News Daily shows the average rate on a 30-year fixed mortgage dropped by 12 basis points from Monday to 6.13% — the lowest level recorded since late 2022.
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