Spring Mortgage Rates Dip Lower
Recent mortgage rate activity may be a good sign for Americans planning to move this year.
Spring is traditionally the best season to buy or sell a home throughout the U.S. That's why recent mortgage rate activity may be a good sign for Americans planning to move this year.
According to Freddie Mac, the average interest rate for a 30-year home loan was just over 4 percent at the start of May. That's down from a peak of 4.3 percent just two months earlier.
While it doesn't sound like much, even a fraction of a percent makes a big difference in the cost of a home loan. Therefore, homebuyers are encouraged to take the opportunity and sign up for a mortgage while rates remain low.