Mortgage Rates Plummet to 5-Week Low, Offering New Opportunities for Homebuyers
TL;DR Summary
Mortgage rates on 30-year loans have dropped for four consecutive days, reaching a five-week low of 7.82%. Rates on 15-year mortgages and jumbo 30-year loans have also decreased significantly. The decline in rates is attributed to various factors, including the bond market, the Federal Reserve's monetary policy, and competition among lenders. It is advised for borrowers to shop around and compare rates to find the best mortgage option.
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