Mortgage rates decline this week with 30-year fixed rate at 6.67%

Mortgage rates have decreased this week. The average 30-year fixed mortgage rate is now 6.67%, down five basis points, while the 15-year fixed rate has dropped to 6.00%, a decrease of 12 basis points. These rates are national averages and may vary by location. The current environment remains challenging for homebuyers and those looking to refinance, but the recent decline offers some relief. Fixed-rate mortgages lock in the interest rate for the loan's duration, while adjustable-rate mortgages can change after an initial period. Borrowers are encouraged to compare lenders and consider factors beyond just interest rates.