Mortgage rates are currently at least half a point lower than a year ago, with the national average 30-year fixed rate at 6.22%, down 57 basis points from last year. The 15-year rate is also lower at 5.50%. Zillow data shows current mortgage and refinance rates, with the 30-year fixed rate at 6.11% and 6.27%, respectively. Adjustable-rate mortgages offer lower initial rates but can change over time. Industry forecasts indicate mortgage rates will remain stable in the near future, with a potential slight decrease. Overall, rates are improving, providing better affordability for homebuyers.

Read more at Yahoo Finance: A half-point lower than last year