Experts say mortgage rates are trending down [Video]

LITTLE ROCK, Ark. — The housing market has been tough on prospective home buyers over the previous years, and now— for the first time in years experts explained how they’re seeing the lowest drop in mortgage rates.

In October 2023, mortgage rates hit 8.25%. Since then, they’ve started going down a bit and were sitting around 7%. Now, they’re hitting close to 6.30% which is something that Retail Mortgage Loan Officer, Scott Taylor, explained can make a huge difference.

“We definitely are seeing the curve come down, and that’s what’s important. We’re not ever going to see twos or threes again, but we will hopefully see some fives again,” Taylor described.

Thanks to this downward trend in mortgage rates, people nationwide can now get one step closer …