Mortgage Rates Just Hit a 3-Year Low – Is Now the Time to Lock In?
Mortgage Rates Hit Lowest Levels of the Year After a prolonged stretch of high borrowing costs, current mortgage rates are finally receding. In late October, the average 30-year fixed mortgage fell to its lowest level of 2025, around the 6.2%–6.3% range ts2.tech bloomberg.com. That’s a significant improvement from January, when 30-year rates were above 7% ts2.tech. Some daily measures even put the typical mortgage rate today below 6% on an APR basis. For example, Zillow’s daily tracker showed the 30-year rate at about 5.92% APR on October 29, down 17 basis points in one day nerdwallet.com (a basis point is
