Mortgage rates continue to fall for 4th straight week

Good news for potential home buyers.

COLUMBIA, S.C. (CNN)—Good news for potential home buyers! Mortgage rates fell for the fourth week in a row.

According to data from Freddie Mac, the average 30 year-fixed-rate was just over six and a quarter percent.

That’s down from 6.3% the week before. After hitting a high in November rates started to trend down in 2023.

They ticked up again in February, after the Federal Reserve indicated more hikes to cool inflation.

Freddie Mac says the U.S. is now entering the traditional spring home buying season.

But low inventory is proving challenging for home buyers, especially first-timers.