The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year

Mortgage interest rates are the lowest they've been since 2022, but there are multiple ways to get one even lower.

Thirty-year mortgage rates fell to a one-year low today. The current average mortgage rate on a 30-year fixed mortgage is 6.14% with an APR of 6.17%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.

The interest rate on the most popular U.S. home loan dropped last week to a 13-month low after a key reading of inflation came in lower than expected, cementing expectations for another Federal Reserve interest-rate cut.

The average rate on the 30-year fixed mortgage fell this week to 6.17%, according to the latest Freddie Mac data released on Thursday. That is down from last week's reading of 6.19%.

Think you know everything there is to know about mortgage rates? Here are three surprising facts you may have missed.

On Wednesday, the Fed lowered its benchmark federal funds rate by a quarter percentage point to a range of 3.75% to 4%.

As the Fed promises more rate cuts in the near future, would-be homeowners, and those looking to refinance, might be hopeful that mortgage rates will drop.