
Mortgage Rates Drop to a Two-Month Low, Housing Affordability Remains a Challenge
Mortgage rates have fallen to their lowest level in two months, bringing a glimmer of hope for homebuyers. However, high home prices and limited housing inventory continue to make homeownership a distant dream for many. According to Freddie Mac, the 30-year fixed mortgage rate averaged 6.85% for the week ending February 20, 2025, marking the fifth consecutive week of declines. Despite this, affordability…