Mortgage Rates Reach Lowest Levels in 8 Months

Picture of Author: Rich Barnhart

Author: Rich Barnhart

February 1st, 2024

Mortgage rates dropped again this week reaching the lowest rate we’ve seen since May of 2023. The 15 year fixed rate mortgage dropped below 6% while the 30 year fixed rate settled in at an average of 6.63%. The fed is hinting at rate cuts this year, but whether they follow through with that remains to be seen. In the meantime, buyers are enjoying much needed relief with lower rates going into the busy buying season.

Mortgage rates as of February 1st, 2024
Freddie Mac reports that mortgage rates are down to the lowest levels since last May
Blog Author:

Rich Barnhart

Rich is the broker and owner of By The Sea Realty and a frequent contributor to the company's real estate blog.

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