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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
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The Majority Expects Housing To Boom With Fed Easing
Mortgage rates have fallen to unexpected multi-year lows, surprising industry experts. According to Zillow’s lender marketplace, the average 30-year fixed mortgage rate is now 5.81%, while the 15-year fixed rate has dropped to 5.32%—its lowest level since 2022.
Current national average purchase rates include 5.81% for a 30-year fixed, 5.76% for a 20-year fixed, 5.32% for a 15-year fixed, and adjustable rates ranging from 5.82% to 5.88%. VA loan rates are even lower, with 30-year VA loans at 5.41% and 15-year VA loans at 5.04%.
Refinance rates are similar, with 30-year fixed loans at 5.85% and 15-year fixed at 5.42%, while VA refinance rates range from 4.75% to 5.40%. All figures reflect national averages rounded to the nearest hundredth.
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