While the Federal Reserve is widely expected to cut interest rates soon in response to cooling inflation and a slowing job market, potential homebuyers shouldn’t assume that mortgage rates will immediately follow suit. Mortgage rates are influenced by the broader bond market, not directly tied to the Fed’s benchmark rate. Financial markets anticipated these changes…
Mortgage rates fell to their lowest point in four months as of August 8, 2025, offering a bit of relief to homebuyers and homeowners looking to refinance. The average rate on a 30-year fixed mortgage dropped to 6.90%, down from last week’s 7.02%, while 15-year fixed rates also declined to 6.21%. Experts attribute the dip…
Mortgage applications saw an overall increase in the latest report from the Mortgage Bankers Association, despite continued volatility in interest rates. Following a modest decline in average rates for 30-year fixed mortgages, both purchase and refinance applications edged up. The average rate for these loans dipped to 7.02% from the previous week’s 7.07%, prompting some…
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