30-year mortgage rate is still low. The average interest rate of 30-year fixed rate is 6.00% recently according to Freddie Mac. 15-year fixed rate mortgage dropped to an average of 5.50%. Per Freddie Mac, the low rate gives the home buyers more purchasing power and increase demand in the real estate market. As per Freddie Mac’s chief economist, we expect rates to stay stable and continue to propel the purchase market forward.

Don’t miss the chance to lower your payment and ask for the lowest rate that you can have.