Reported 2 months ago
Mortgage rates are expected to continue declining ahead of the Federal Reserve's planned interest rate cuts. Following a drop in bond yields, the average rate for a 30-year fixed mortgage fell to its lowest since February, with current rates at around 6.73%. Analysts believe that as market participants anticipate a possible half-point cut in September, mortgage rates could trend down further, despite existing affordability challenges in the housing market.
Source: YAHOO