Average rate on a 30-year mortgage slips to 6.08%, lowest level in 2 years

The average rate on a 30-year mortgage in the U.S. fell to its lowest level in two years, dropping to 6.08% from 6.09% last week, according to Freddie Mac. This decrease in borrowing costs is providing home shoppers with increased purchasing power in a housing market where prices are near record highs. The last time the average rate was lower was on Sept. 15, 2022, when it was 6.02%.

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