The average interest rate on a 30-year fixed mortgage is now 6.65%, down from 6.76% last week, offering potential savings for borrowers.
For those looking to pay off their homes faster, the average rate on a 15-year fixed mortgage is 5.65%, marking a decrease from the previous week.
Homeowners considering refinancing to lock in lower rates should compare their current mortgage rate with prevailing market rates before proceeding.
Experts suggest using a mortgage calculator to estimate costs and exploring various loan programs and lenders to potentially secure a more favorable interest rate.