BOISE, Idaho — Mortgage rates are dipping. But while they’re headed in the right direction, that doesn’t mean a bunch of people will be able to buy a home now that they couldn’t a few weeks ago. However, there is something potential homebuyers can do to start the process of getting into a home.
Freddie Mac says the average rate on a 30-year loan is 6.35%. While that’s up a little compared to this time last year. It’s down 0.7% since the start of the year. That would drop your monthly payment, depending on a lot of factors, well over $100 on the average Ada County home.
Is that enough to open the door to a bunch more people, especially young people, waiting for the market to get to a place where they can finally achieve the American dream of homeownership? Absolutely not…