Mortgage Rates Decline as Inflation Eases and Fed Cuts Loom

Recent data shows a significant drop in mortgage rates, with expectations of further decreases as the Federal Reserve considers multiple rate cuts.

30-year fixed mortgage rates fell below 6.5% for the first time in over two weeks.
The average rate for 15-year fixed mortgages dropped to 5.90%, the lowest since mid-June.
Market analysts now predict up to three Federal Reserve rate cuts by the end of 2024.
Mortgage rates are influenced by investor demand for mortgage-backed securities and Federal Reserve policies.
Homebuyers and those looking to refinance could benefit from lower rates later this year.