US Mortgage Rates See Biggest One-Year Drop, Homeowner Refinancing Demand Surges

According to the Wise Finance and Economics APP, mortgage rates in the United States have seen the largest drop in a year, leading to a significant increase in demand for refinancing among homeowners looking to save money. Fannie Mae stated in a press release that the average interest rate for a 30-year fixed-rate mortgage is 6.35%, lower than last week's 6.5%.