Rate Update: Mortgage Rates Take a Dive Below 7%!

Exciting news in the housing scene! Mortgage rates have taken a delightful plunge, slipping below that 7% mark—a sweet little surprise before the holidays!

Freddie Mac's recent survey showed the 30-year fixed mortgage rate averaged 6.95% for the week ending December 14. That's down from last week's 7.03%—talk about a trend we're thrilled to see!

This drop in rates isn't just about numbers; it's a big green light for folks eyeing their first homes or thinking about refinancing for a better rate, possibly even a lower payment.

So, what's the takeaway? This rate drop isn't just a blip on the radar—it's a game-changer. It’s lighting up the housing market with possibilities and paving the way for more affordable homeownership!