ICYMI: Mortgage Rates Fall to Three-Year Low
Mortgage rates in the U.S. have dropped to their lowest level since late 2022, marking the third consecutive week of declines.
Key Details:
- 30-year fixed rate: Fell by 12 basis points in one day to 6.13% (Mortgage News Daily).
- This is the lowest mortgage rate in 3 years.
- The drop came as investors in mortgage-backed bonds positioned ahead of an anticipated Federal Reserve rate cut.
White House Framing:
- The Trump Administration credited its economic agenda with helping to lower costs for American families.
- Highlighted the decline as evidence of delivering relief to households and boosting consumer purchasing power.
Big Picture:
Falling mortgage rates may provide opportunities for homebuyers and potential relief for the housing market, which has been constrained by high rates since 2022.
