"Mortgage Rate Trends: The Rise and Fall Amid Economic Shifts"

Mortgage rates have dropped, with the 30-year fixed-rate mortgage falling to 6.500%, a decrease of 0.250 percentage points from the previous day. It's crucial for potential borrowers to check current rates and compare offers from different lenders to secure the best deal. Factors like credit score, debt-to-income ratio, and down payment significantly influence mortgage rates. Credible, a personal finance marketplace, provides tools to compare rates and calculate potential monthly payments. The article also discusses the pros and cons of mortgages, how to qualify and apply for one, and the refinancing process.