Current 30-Year Mortgage Rates

Mortgage Rates Drop Compared to Last Year

The 30-year mortgage rate has seen a slight decrease this week, falling to 678 compared to 677 last week. This rate is still slightly higher than the long-term average of 773 but remains lower than it was last year at 678.

Historical Mortgage Rate Trends

Over the past year, mortgage rates have fluctuated but have generally remained within a narrow range. The lowest rate recorded in the past 12 months was 676, while the highest was 680. This stability has provided some relief for homeowners and potential homebuyers who were concerned about rising interest rates.

Conclusion

While the current mortgage rate is slightly higher than the long-term average, it remains at a historically low level. This is good news for anyone looking to finance a new home or refinance an existing mortgage. With stable rates and a competitive lending environment, now is an excellent time to take advantage of the benefits of homeownership.