US Mortgage Rates Dip to Multi-Year Lows, Boosting Home Buying
US mortgage rates fell last week to some of the lowest levels in years, with the 30-year fixed rate at 6.18% (down 7 basis points), the lowest since September 2024 and among the lowest since 2022. The 5-year ARM slid to 5.42%. Cheaper financing helped lift activity: the Mortgage Purchase Index rose about 16% to its second-highest level since February 2023, while refinancing surged more than 40%, signaling renewed housing-market momentum.