According to a recent USA Today article, mortgage rates continue to drop. Last week, the 30-year rate average dropped from 3.79% to 3.72%. Additionally, the 15-year rate average dropped from 3.07% to 3.01%. But perhaps the most significant piece of information is not that both rates saw a decline, but that, for the 30-year rate average, it dropped for the fifth consistent week.
“Mortgage rates have continued to fall despite the Federal Reserve’s decision in December to raise the short-term rate it controls for the first time since 2006,” according to USA Today.
Source: USA Today