Mortgage rates fell three weeks in a row — Freddie Mac's survey puts the average 30-year rate at 7.18%, down from 7.40%. But a year ago the same loan cost 6.22%, so on a $400,000 mortgage you're still paying $255 more a month. Homeowners are locked into rates under 5%, so listings stay thin and pending sales just hit their lowest since 2021 — if you can afford the payment, get pre-approved, compare three lenders, and negotiate. Follow US Money Guide for daily money tips!
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