A decline in mortgage rates improved home affordability conditions in the United States to the best level in three years in October, 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 more than a year. Meanwhile, home values remained steady from 2024. Combined, this caused mortgage payments to dip by 1.8 percent for the month, according to Zillow.
