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The Independent UK

Business

J.R. Duren

Average mortgage rate drops below 6.2% for first time since October 2024

Steve Hill US Federal Reserve the Federal Reserve

Mortgage rates have hit a 14-month low.

Freddie Mac’s Primary Mortgage Survey, an ongoing data analysis that tracks average rates for mortgages, revealed on Thursday that rates for 30-year fixed-rate home loans fell to 6.18 percent, marking the first time since October 2024 that they dipped under 6.2 percen.

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