Mortgage Rates Drop to Lowest Level in over a Year and a Half

Mortgage Rates Just Took a Dive – Is It Your Time to Buy?

Mortgage rates just hit their lowest point in over a year and a half, and if you've been waiting on the sidelines, this might just be your moment.

Here's why: even a tiny dip in rates can mean a huge difference in your monthly payment. And guess what? This drop is anything but tiny. As Sam Khater, Chief Economist at Freddie Mac, puts it:

“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”

That’s a major shift! But hey, don’t just take our word for it—let’s break down the numbers.

Take a look at the chart below to see how the math stacks up.