U.S. 30-Year Mortgage Rates Dip Below 6% for First Time Since 2022

U.S. mortgage rates have fallen below 6% for the first time since late 2022, with the average 30-year fixed rate dropping to 5.98%, according to Freddie Mac. This decline may ease monthly payments and encourage homebuyers during the spring season. While rates remain volatile and influenced by economic factors like inflation and bond yields, experts advise buyers to consider their budgets and credit before locking in rates. Despite recent improvements, housing market sales have remained subdued since 2022.