U.S. Mortgage Rates Slip to Lowest Level in Four Months at 2.93%

Mortgage rates in the U.S. dropped to the lowest level in four months.

The average for a 30-year loan was 2.93%, down from 2.96% last week and lowest since Feb. 18, Freddie Mac said Thursday.

“Mortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, chief economist at Freddie Mac said in a statement.