💨 Abstract

The average rate on a 30-year U.S. mortgage slightly decreased to 6.72% from 6.74% last week, offering some relief to prospective homebuyers facing high costs. The 15-year fixed-rate mortgage also saw a slight drop to 5.85% from 5.87%. Mortgage rates are influenced by factors such as the Federal Reserve's interest rate policies and economic expectations.

Courtesy: WTOP Staff