US mortgage rates dip to lowest since October, 30-year loans fall to 6.26%; refinancing demand surges

US mortgage rates witnessed a decline. The average rate on a 30-year mortgage reached 6.26%. This is the lowest since early October. Freddie Mac reported this news on Thursday. The Federal Reserve’s rate cut of 2025 contributed to this drop. Refinancing activity saw a surge. Adjustable-rate mortgages also gained popularity. This indicates a gradual decrease in borrowing costs for consumers.