Our experts answer readers' home-buying questions and write unbiased product reviews (here's how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.

Mortgage rates dropped significantly this month, with 30-year mortgage rates hovering right around 7% after spiking close to 8% in October. 

Rates fell in response to softer economic data. As the broader economy continues to normalize, mortgage rates should trend down even further, increasing affordability for borrowers.