Mortgage rates dip as 30-year is 7.24% and 15-year 6.60%
Business
Good news if you're eyeing a home or thinking about refinancing: mortgage rates have dropped to their lowest in over a month.
The 30-year fixed-rate is now 7.24% (down from 7.32% last week), and the 15-year sits at 6.60%.
It's a small shift, but for buyers and homeowners, every bit helps.
Falling Treasury yields push rates down
This dip is mostly thanks to falling Treasury yields, which are influenced by bigger economic pressures like inflation and global tensions (including the U.S.-Iran conflict).
Earlier rate hikes had made buying a home tougher by raising costs and slowing sales, so this drop could make things a little more affordable for anyone hoping to get into the market or refinance soon.