Mortgage rates soared in the post-pandemic era, leaving borrowers scrambling to find home loans under 7.00%. This came as a big shock to those who'd become used to the 3.00% to 4.00% rates that lasted from the end of the great recession until COVID-19 hit and sent inflation surging.

Rates for 30-year new purchase mortgages fell Friday, lowering the flagship average to it cheapest level since mid-October. Rates on other loan types showed mixed movement.

When it comes to lowering mortgage rates, changes in the labor market may have the biggest influence. Here's why.

A drop in mortgage rates for the first time in two months has sparked a surge in home purchase applications, breathing new life into the stagnant housing market.

These are today's mortgage and refinance rates. Mortgage rates are down slightly today, but where they go next depends on incoming economic data.