30-Year Mortgage Rates Drop To 4.14%; 15-Year Mortgage Rates Hit 3.22%
Mortgage rates dropped again last week, continuing this year's steady interest rate improvement.
Conforming 30-year fixed rate mortgage rates fell 0.03 percentage points last week to reach 4.14%, on average, nationwide. The average 15-year fixed rate mortgage rate fell 0.08 percentage points to 3.22%.
With mortgage rates in the low-4s, and with more than $800 billion worth of outstanding mortgages carrying a rate above five percent, millions of U.S. homeowners are potentially eligible for a refinance.
It's a terrific time to buy a home or explore the possibility of a refinance. Current mortgage rates are near a 13-month low, and below their year-ago levels.
Click for today's live mortgage rates.
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