Mortgage Rate Drop Could Save Americans $20,000

Homebuyers in the US could save thousands on their mortgage payments as rates have fallen by 0.25 percent, the largest weekly decline in over a year. The drop in rates comes as Americans face high borrowing costs, low housing supply, and other economic obstacles to homeownership. However, experts believe that the recent drop in rates is unlikely to have a significant impact on affordability and demand. The cost of financing a mortgage is also at a record high, making it more challenging for buyers to afford homes.

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