Mortgage Rates Decline: What a $700,000 Loan Costs Today
Mortgage Rates Decline: What a $700,000 Loan Costs Today Homebuyers and homeowners are seeing significant relief as mortgage rates continue to fall. After reaching elevated levels earlier in 2025, the average 30-year fixed mortgage rate has now dropped to 6.34%. This substantial decline offers considerable savings for those looking to purchase a home or refinance an existing mortgage. For a $700,000 mortgage, the current 6.34% rate translates to a monthly principal and interest payment of $4,351.08. This represents a saving…