Fri, Apr 19th, 2024 - 6:15am
August 05, 2022 - 7:39am | By Kyle Cornell
(Washington, D.C.) -- Mortgage rates are dropping.
For the first time since April, rates are below five percent. Economic concerns have caused rates to fluctuate in recent months, as they soared to a high of five-point-eight percent in June.
While rates have dropped in recent weeks, they have a way to go to catch the 30-year rate from this time a year ago, which was around two-point-eight percent.