Mortgage and Refinance Rates Today, March 9, 2025: Rates Down 37 Basis Points This Year
Mortgage and refinance rates have improved slightly in 2025, with the average 30-year fixed mortgage rate now at 6.31%, reflecting a decrease of 37 basis points since the year's start. The 15-year fixed interest rate has also seen a reduction, currently at 5.63%, encouraging potential home buyers to consider entering the market. Despite these decreases, it is advised that buyers focus on their financial readiness rather than waiting for further drops in rates.
- This shift in mortgage rates indicates a potential easing in housing market conditions, which may stimulate buyer interest and activity despite ongoing economic uncertainties.
- What strategies should potential home buyers adopt in this evolving rate environment to ensure they make the best financial decisions?