For the first time in months, mortgage rates made significant downward progress last week. But the question for housing professionals is whether the trend will last.

Mortgage News Daily reported Monday that the average 30-year fixed-rate loan averaged 6.01%, down 18 basis points in the past week. MND data shows that rates haven’t been this low since February 2023.

At HousingWire’s Mortgage Rates Center — which analyzes locked loans across all borrower credit profiles — 30-year conforming loan rates averaged 6.26% on Tuesday. That was down 11 bps from one week ago. Rates for 30-year jumbo loans averaged 6.26%, details ⇒

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