Cash-strapped home sellers and buyers are getting much-needed relief with four weeks of mortgage rate drops

Dec 10 2022 by Business Insider

 
A family shopping for a home with a Realtor.

Getty Images

This week, the average rate for a 30-year mortgage stood at 6.33% – marking the fourth consecutive week of declines. Mortgage rates have declined three quarters of a point over the last four weeks, representing the largest drop since 2008. As rates fall, homebuyer activity appears to be picking back up across the US. 

After a grueling summer of dashed hopes, home shoppers can let out a sigh of relief.

The average rate on a 30-year...

Continue Reading Cash-strapped home sellers and buyers are getting much-needed relief with four weeks of mortgage rate drops