Mortgage rates slip under 6% to fresh 2022 low, fueling refi surge

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Source: CNBC
Mortgage rates slip under 6% to fresh 2022 low, fueling refi surge
Photo: CNBC
TL;DR Summary

The average 30-year fixed mortgage fell to 5.99%, tying the lowest level since 2022 and helping refinancing applications surge about 130% year over year. Lower rates could widen loan eligibility and bolster spring homebuying, with a $400,000 home at 20% down costing about $1,916 per month in principal and interest vs. $2,105 a year ago.

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