Mortgage rates are slipping after a rapid rise
Yes, mortgage rates have been slipping recently after a rapid rise earlier in the year. The average rate on a 30-year fixed mortgage dropped to 2.81% this week, according to Freddie Mac. This is down from the peak of 3.15% earlier in the month. Mortgage rates are at historic lows, and experts expect them to remain low as the Federal Reserve is expected to keep rates low for an extended period of time.