Reported 19 days ago
Mortgage rates have dropped to an average of 6.09% after the Federal Reserve's recent rate cut, marking the lowest level since early February 2023. This decline, however, was largely anticipated by the markets, with mortgage applications seeing a significant increase as potential buyers react to the better affordability. Economists predict that while the rate cut may have a positive effect on housing demand, mortgage rates might not fall significantly lower in the near future.
Source: YAHOO