What is the average mortgage rate noted in the options 5.9%, 6.1%, 6.3%, 6.5%?

To find the average mortgage rate among the choices provided, it’s important to understand how to calculate the average. The average is found by adding all the values together and then dividing by the number of values.

In this case, the given percentages are 5.9%, 6.1%, 6.3%, and 6.5%. When you add these together:

5.9 + 6.1 + 6.3 + 6.5 = 24.8

Next, you divide the sum by the total number of values, which is 4:

24.8 / 4 = 6.2%

The average mortgage rate is therefore 6.2%. However, if the question is intended to identify the lowest average option to compare against other averages or benchmarks, 5.9% could stand out as the lowest notable figure to consider when discussing typical rates, but it wouldn't be the average rate of the list provided.

Thus, while 5.9% may be highlighted, the actual calculated average, based on traditional calculations, is 6.2%. This demonstrates the importance of properly calculating averages instead of solely selecting the lowest percentage in the list.