Housing relief? Mortgage rates drop to their lowest level in over a year

Mortgage rates fell to 6.47% this week, prompting a flurry of refinancing activity. Rates are still much higher than they were a few years ago, however, leaving many homeowners reluctant to move.

Mortgage rates fell to 6.47% this week, prompting a flurry of refinancing activity. Rates are still much higher than they were a few years ago, however, leaving many homeowners reluctant to move.

(Image credit: Spencer Platt)