Mortgage Rates Fluctuate, Creating Uncertainty for Homebuyers

Recent drops in mortgage rates spark refinancing interest, but rates have begun to rise again.

Interest in mortgage refinancing surged 59% from last year, reaching a two-year high.
Current 30-year mortgage rates dipped below 6% recently, the lowest since February 2023.
Mortgage rates have risen again, with the 30-year fixed rate now averaging 6.40%.
Experts advise homeowners to carefully consider costs and potential savings before refinancing.
Economic factors, including Federal Reserve policies, continue to influence rate volatility.