Mortgage Rates Drop for Fifth Straight Week: What It Means for Homebuyers
As the spring homebuying season approaches, hopeful buyers are keeping a close eye on mortgage rates—and there's finally some good news. The average rate on a 30-year fixed mortgage has dropped for the fifth consecutive week, settling at 6.85%, its lowest since late December. For those considering moving, this rate dip could offer a small window of opportunity.
What’s Behind the Drop?
The recent decline in mortgage rates follows a drop in the 10-year Treasury yield, which lenders use to help set interest rates for home loans. Just a few weeks ago, the yield stood at 4.79%—but concerns about inflation and economic uncertainty have pushed it down to 4.5%, helping to ease mortgage rates.
According to Freddie Mac’s Chief Economist Sam Khater, this stability could benefit buyers and sellers as the spring real estate market heats up.
What Does This Mean for Buyers?
While lower rates are a welcome sign, affordability remains challenging in many markets. With high home prices and inventory limited, some buyers hesitate to jump in. However, even a small rate dip can make a significant difference in monthly payments—making now a wise time to explore your options and potentially lock in a rate.
What’s Next?
Experts recommend closely monitoring mortgage rates over the next few weeks. If you're thinking about buying a home, now is the time to:
Get pre-approved to understand your budget.
Talk to a lender about current rates and options.
Consider locking in a rate if conditions are favorable.
The spring market tends to bring more listings and increased competition—so if you're ready to make a move, preparing now can give you a competitive edge.
Would you like to discuss your homebuying goals or learn about the latest market trends? Let's connect!
For more information: https://www.fox13seattle.com/news/mortgage-rates-drop-2025
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