The average rate on a 30-year U.S. mortgage fell this week to its lowest level in more than a year, extending a recent trend that’s helped give lagging U.S. home sales a boost.

The average long-term mortgage rate fell to 6.19% from 6.27% last week, mortgage buyer  said Thursday. A year ago, the rate averaged 6.54%.

This is the third straight weekly decline and it brings the average rate to its lowest level since Oct. 3, 2024, when it was 6.12%.

 

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