The 4% Mortgage Is Back

The average rate on a 30-year fixed mortgage was down nearly a quarter point this week from a week earlier, its biggest drop in over a decade

Mortgage rates are fast approaching 4%, a rate low enough that economists and lenders believe it will help jump-start the housing market again.

The average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018, according to data released Thursday by Freddie Mac, the mortgage-finance giant. The rate was down nearly a quarter point from a week earlier, its biggest drop in over a decade.

Read full story at The Wall Street Journal.