Mortgage Rates Decline, Treasury Yield Dips

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mortgage rates

Yahoo Finance

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Business

Business & Economics

Mortgage and refinance rates today, February 2, 2025: Lowest 30-year rate since mid-December

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The 30-year fixed mortgage rate has been declining for several days , down three basis points today to 6.55% . This puts it at its lowest point since mid-December when it was at 6.50% It may seem strange that mortgage rates are going down even though the Federal Reserve didn't cut the federal funds rate at last week's meeting.

Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case.

The average 30-year fixed mortgage rate is 6.55% right now, according to Zillow .

You might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio.

Mortgage rates aren't expected to drop drastically in the near future.

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informal

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English

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