Mortgage Rates Decline Again as Fed Rate Cut Anticipation Grows

Thursday, 29 August 2024, 11:10

Loan rates continue to decline as mortgage rates drop again in anticipation of a Fed rate cut. The average rate on a 30-year fixed mortgage is now 6.35%, reflecting a significant decrease. Homebuyers should keep a close watch on these developments.
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Mortgage Rates Decline Again as Fed Rate Cut Anticipation Grows

Overview of Recent Mortgage Rate Trends

The average rate on a 30-year fixed mortgage was 6.35% Thursday, down from 6.46% a week ago, according to Freddie Mac, a government-sponsored home-loan agency.

Current Rates

  • 30-Year Fixed Mortgage: 6.35%
  • 15-Year Fixed Mortgage: 5.88%

Impact of Federal Decisions

The anticipation of a Federal Reserve interest rate cut is influencing current mortgage rates as buyers await clearer directions from Chairman Powell at the upcoming conference.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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