Mortgage Rates Hit Yearly Low After Fed’s Cut – Why Experts Say 3% Mortgages Are Gone for Good
Mortgage Rates at 14-Month Lows After Weeks of Decline After climbing to painful highs earlier in 2025, mortgage rates have finally pulled back in recent weeks – offering a dose of relief to homebuyers and refinancers. The average 30-year fixed-rate mortgage now hovers around 6.2% (APR) as of November 4 nerdwallet.com. That’s down from the ~7%+ range seen at the start of the year and marks the lowest level for rates in about 14 months themortgagereports.com. Freddie Mac’s weekly survey showed the 30-year average easing to 6.17% at the end of October, the fourth consecutive weekly drop and the lowest
