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 their lowest level in 15 months this week, providing a little relief in the country](https://npr.brightspotcdn.com/dims3/default/strip/false/crop/3000x2000+0+0/resize/3000x2000!/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2Fc8%2Fe6%2Faa21de5648ab948c0265a57755a2%2Fgettyimages-83902227.jpg)
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)
![](https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-5068309)