Mortgage rate relief could be finally on the horizon for homebuyers in Las Vegas, according to a new report from Zillow.

The average mortgage payment in November for a house in the Las Vegas Valley with 20 percent down is $2,118, a 2.9 percent drop year over year, according to the online real estate brokerage.

Freddie Mac has the average 30-year fixed-term mortgage at 6.1 percent, the second straight week of declines coming off Thanksgiving. A year ago this time the mortgage rate was 6.6 percent, but the overall mortgage rate has not gone below 6 percent since 2022, a ceremonial number analysts are keeping an eye on.

Kara Ng, a senior economist at Zillow, said for-sale supply of homes continues to pile onto the Las Vegas Valley market, and in markets across the country.

According to La

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