Homebuyers are getting more for their money now that mortgage rates have dropped to 6.7% — down from nearly 8% in October. A homebuyer with a $3,000 per month budget can afford a house that costs nearly $40,000 more since mortgage rates peaked last fall, according to a new report from Redfin. A budget of $3,000 per month will buy a $453,000 home with a 6.7% mortgage rate. In October, the same buyer could have purchased a $416,000 home with an average mortgage rate of 7.8%. Don't Miss: Investing