"Opportune Time to Buy: Mortgage Rates Hit Two-Month Low"

Mortgage rates have dropped slightly for the fifth consecutive week, easing homebuyers' borrowing costs just in time for the Spring buying season. However, the lack of inventory continues to be the most significant housing challenge, with sellers not motivated to list their properties. The average rate on the 30-year fixed mortgage had a minor dip to 6.27% from 6.28% the week before, according to Freddie Mac. U.S. inflation also eased last month, with consumer index price (CPI) recording just a 0.1% rise in March, a further decline of 0.5% rise in February; the current index showed an annual inflation increase of 5%, the lowest since May 2021.