A decline in mortgage rates improved home affordability conditions in the United States to the best level in three years last month, real estate marketplace Zillow said in a Nov. 18 statement.
The average 30-year mortgage rate fell to 6.25 percent in October, the lowest monthly average in over a year. Meanwhile, home values remained steady from last year. Combined, this led to mortgage payments dipping by 1.8 percent for the month, said Zillow.
