Mortgage interest rates have dropped significantly, making it a good time to buy or refinance.

Mortgage interest rates have fallen for five consecutive weeks, with the national average 30-year fixed rate dropping to 6.67% and the 15-year fixed rate falling to 5.80%. Economists do not expect rates to plummet by the end of 2025, so buying a house soon and refinancing later may be a wise move. The current mortgage rates from Zillow are 6.59% for 30-year fixed, 6.24% for 20-year fixed, and 5.81% for 15-year fixed. Mortgage refinance rates are often higher than purchase rates. The MBA forecasts rates to stay above 6% through 2026, with minimal changes expected in the coming years.

Read more at Yahoo Finance: Rates drop 28 basis points since last year