HEWITT, Texas (KXXV) — Freddie Mac reports the 30-year fixed mortgage rate has dropped to its lowest point in months, spurring refinancing activity.

The average 30-year fixed rate fell to 6.27% last week — down from the prior week and well below the rate from a year ago

Realtor Haleema Rahim says buyers should act quickly before home prices react to the shift

One year ago, the rate was above 7%

Homebuyers and homeowners looking to refinance are getting some relief. For the second straight week, mortgage rates have declined, with Freddie Mac reporting the average 30-year fixed rate fell to 6.27% last week — down from the prior week and well below the rate from a year ago.

The drop in rates is fueling more refinance applications, according to Freddie Mac. Realtor Haleema Rahim says buye

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