Mortgage Rates Just Had Biggest Drop In Nearly A Year
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When you get a fixed-rate mortgage, it's like buying insurance against inflation, and you're paying for that insurance over the whole life of the mortgage,” one expert told us.
The average rate on 30-year fixed home loans was 6.35% for the week ending Sept. 11, down from 6.5% the previous week and an 11-month low.
After months of sitting out a sluggish housing market, would-be buyers may finally have a reason to jump in: Borrowing rates are tumbling.