Mortgage Rates Drop to Lowest Level in Over a Year, Prompting Some House Hunters to Ramp Up Touring
A soft jobs report and recession jitters sent mortgage rates down last week. Despite the small improvement in affordability, pending sales still posted their biggest year-over-year decline in 9 months–but the rate drop prompted some prospective buyers to start the house-hunting process. Mortgage rates dropped to their lowest level since April 2023 early this week,