Mortgage rates drop to lowest level in nearly 4 years

Mortgage rates fell sharply this week as tensions between the US and Iran stoked the possibility of military conflict. Inflation concerns also lingered, as evidenced in the minutes of the Federal Reserve's latest meeting. The 30-year fixed mortgage rate fell 8 basis points to 6.01% for the week ending Wednesday, according to Freddie Mac. That's the lowest level since September 2022. The 15-year fixed dropped 9 basis points to 5.35%. “This lower rate environment is not only improving affordability for pro ...