Interests Rates are Dropping: Here’s What it Means

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Interests Rates are Dropping: Here’s What it Means

According to Freddie Mac data, mortgage rates in the U.S. experienced their most significant one-week drop since November, with the 30-year fixed-rate falling from 7.76% to 7.50% in the week ending November 9. This marks the second consecutive week of declining rates following seven weeks of consecutive increases. The drop in rates, attributed to declining Treasury yields, may encourage homebuyers, but concerns persist about the overall affordability of the housing market, as household debt continues to rise, according to Freddie Mac’s chief economist, Sam Khater.

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