Mortgage Rates Drop, Giving Homebuyers a Break

0:00U.S. mortgage rates just dipped for the third week straight, giving home hunters a break during peak spring buying time. The key 30-year fixed rate fell to 6.23 percent from 6.3 percent, according to Freddie Mack. That's the lowest since March 19. The 15-year fixed rate also eased, hitting 5.58 percent down from 5.65 percent. A year ago, those averages sat higher at 6.81 percent and 5.94 percent. Henders tracked a 10-year treasury yield, which has been cooling off lately. This drop echoes hopes for softer inflation and fed moves, but experts warned rates could bounce around. Bright MLS Chief Economist Lisa Stertivan says we need steady global energy prices and falling domestic inflation for the market to really kick into. Gear Home prices keep surging nationwide though, outpacing wages and squeezing affordability for many per a fresh Wallet Hub report. Stocks in places like Iowa spend just 17 percent of income on housing, way better than the

1:03national strain. Lower rates spark some optimism, but until prices stabilize, that American dream stays a grind eyes on the trends ahead. Dallas News Today, powered by AI bringing you what matters. I'm Corey with The Story.