U.S. mortgage rates tumble to 6.55% in biggest drop in two years | Business
U.S. 30-year mortgage rates plunged last week by the most in two years, reaching their lowest level since May 2023 and sparking a surge in refinancing applications. The contract rate on a 30-year fixed mortgage declined 27 basis points to 6.55% in the week ended Aug. 2, according to Mortgage Bankers Association data released Wednesday.
