Mortgage rates drop below 6%

(CNN)– There’s some good news for would-be homebuyers.

Freddie Mac says the average 30-year fixed mortgage rate is now just shy of 6% at 5.98%.

This is the first time it’s been that low since 2022.

Experts say current homeowners with low rates don’t want to let go of them.

They say that could change if the average drops further.