Mortgage Rates Plunge

Mortgage rates are plunging to the lowest level in over a year.

Friday’s dip came after a weaker-than-expected employment report, according to the Mortgage News Daily. 

The popular 30-year fixed mortgage dropped to 6.4%. That’s the lowest rate since April of 2023.

That drop’s dramatic because it started the week at 6.8%.

The 15-year fixed rate hit its lowest rate since May of 2023. It went down 5.89%