Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Mortgage rates have dropped dramatically over the past couple of months. In November, the average 30-year fixed mortgage rate was at a two-decade high of 7.08%, according to Freddie Mac. But this week, rates fell to 6.09% — nearly a full percentage point lower.