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Homebuying Affordability Hits 3-Year High as Mortgage Rates Plunge to 6%

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The weekly average mortgage rate has officially dropped to 6.01%, the lowest point since September 2022

the staff of the Ridgewood blog

Ridgewood NJ, The wait might finally be over for frustrated house hunters. As we head into the 2026 spring homebuying season, a significant shift in the market is handing power back to buyers. For the first time in over three years, mortgage rates have touched their lowest levels, fundamentally changing the math for monthly payments.

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