The average rate on a 30-year fixed mortgage in the United States eased last week after climbing to its highest level in nine months, offering some relief to prospective homebuyers navigating a challenging housing market.

The average long-term U.S. mortgage rate eased this week from its highest level in nine months, welcome relief for prospective homebuyers.

Even though the Fed cut interest rates in 2024 and 2025, mortgage rates have stayed high, frustrating many would-be homebuyers.