Mortgage rates fall as rising inflation creates consumer doubts

Mortgage rates decreased for the first time in weeks, dropping slightly after nearing the 4% mark last week, according to the latest data from Freddie Mac.

The 30-year fixed-rate mortgage decreased to 3.89% annual percentage rate (APR) for the week ending Feb. 24th. This is down from 3.92% last week and up from 2.97% last year.

"Even with this week’s decline, mortgage rates have increased more than a full percent over the last six months," Freddie Mac Chief Economist Sam Khater said.

If you want to take advantage of this dip in rates, you could consider a mortgage refinance to potentially help you save money on your home loan. Visit Credible to find your personalized interest rate without affecting your credit score

 

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