Mortgage Rates Dip Below 6.5% But Remain Volatile
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Mortgage rates for 30-year fixed-rate loans fell to 6.500% on January 23rd, down 0.125 percentage points from the previous day.
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Many factors determine mortgage rates, including inflation, economic conditions, consumer spending, and Federal Reserve policies. Rates can fluctuate daily.
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Comparing mortgage rates from multiple lenders can save thousands over the loan term. Get quotes and loan estimates from several lenders.
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Mortgages have pros like predictable payments, tax benefits, and building home equity, but also cons like expensive interest and long-term debt.
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To qualify for a mortgage, you’ll need steady income and employment, good credit and assets, and you’ll have to choose the right loan type and meet lending requirements.