Great news for interest rates on home loans!!

U.S. mortgage rates dropped to a 15-month low.

The average rate on the standard 30-year fixed mortgage fell around a quarter percentage point to 6.47%, the sharpest weekly decline in around nine months, according to mortgage-finance giant Freddie Mac. The data raised hopes for relief in the battered housing market. Home sales, which last year fell to their lowest level in nearly three decades, have been sluggish in 2024, too.