These are today's mortgage and refinance rates. Mortgage rates are nearly flat from a year ago, but it still could be a good time to buy.

“As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September,” says Freddie Mac Chief Economist Sam Khater. “The decline in rates increases prospective homebuyers’ purchasing power and should provide a strong incentive to make a move."

28/36 rule: Housing expenses (including mortgage payments, utilities, HOA fees and homeowners insurance) should be no more than 28% of your gross income and no more than 36% on debts overall. 30% rule: Keep monthly mortgage payments and other housing costs to no more than 30% of your take-home pay.

These are today's mortgage and refinance rates. Mortgage rates are down from last month, but it's unclear if they'll drop further.

After the 2008 financial crisis, the housing market recovered fairly well, with mortgage rates remaining below 5% and competitive housing prices. However, the post-COVID housing market faces instability and long-lasting affordability concerns,

U.S. mortgage rates dropped this week the largest percentage in six months. That's the word from Freddie Mac, which released its latest data. Freddie Mac reports the 30-year fixed mortgage rate averaged 6.