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Mortgage ratesYahoo Finance
•72% Informative
The average 30-year mortgage rate today is 5.70% , down 80 basis points since July 22 .
The Federal Reserve is set to cut the federal funds rate six more times before the end of 2025 .
Now could still be a good time to buy because rates will continue to fall lower and lower.
If you're already a homeowner and want to refinance, you may want to hold out for even better rates.
Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios.
If you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes.
Mortgage rates are expected to keep dropping in 2024 and throughout 2025 .
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