Mortgage rates in September trended lower as the bond market priced in expectations of rate cuts by the Federal Reserve. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.35%, 24 basis points (bps) lower than August. Falling mortgage rates have already shown an impact on housing activity. New single-family home sales in August jumped 20.5% from the previous month.
Full article here: Mortgage Rates Continue Downward Trend in September
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