Reported about 10 hours ago
Mortgage rates are dropping, nearing 2025 lows, as traders speculate on a potential Federal Reserve interest rate cut in September. Currently, the 30-year fixed mortgage rate hovers around 6.5%, influenced by lower job growth figures. Experts suggest that if the Fed implements a rate cut, mortgage rates could dip further, possibly providing refinancing opportunities for those with higher existing rates. Additionally, newly built homes are priced more attractively than existing ones, presenting better value for homebuyers.
Source: YAHOO