Mortgage rates just fell below 6% for the first time in years

Mortgage rates on Friday fell below 6% for the first time in years, after President Donald Trump ordered his “representatives” to begin buying $200 billion worth of mortgage bonds, his latest push to lower costs for Americans grappling with the high cost of living.The average interest rate for a 30-year fixed residential mortgage hit 5.99% on Friday morning, down from 6.21% on Thursday, according to data provider Mortgage News Daily. That’s the lowest the 30-year average rate has been since February 2023.As ...