Mortgage Rates Move Slightly Higher For First Time This Month

While it's true that there have only been 8 business days so far this month, it's also true that today is the only one of the 8 where mortgage rates haven't been lower than the previous day for the average lender.  That's the bad news. The good news is that today's increase was modest.  In

Long-Term Rates at Lowest Level Since Feb. 2023

The average rate on 30-year mortgages fell to 6.20% from 6.35% last week. A year ago, it was 7.18%. Rates on 15-year mortgages fell to 5.27% from 5.47%.

Housing Payments More Affordable

Falling mortgage rates have pushed the median U.S. housing payment down near its lowest level since January. Pending home sales have yet to improve.

How Do Interest Rate Cuts Help Housing?

A Fed rate cut, expected in mid-September, could boost the housing market by indirectly lowering mortgage rates. Lower rates could stimulate supply and demand.