Mortgage Rates Dip Slightly as Federal Reserve Holds Steady

Current average rates for 30-year fixed mortgages remain below 7%, with potential for further declines if inflation continues to ease.

The average 30-year fixed mortgage rate is now 6.87%, down from 6.92% last week.
The Federal Reserve is expected to maintain its current interest rate at next week's meeting.
Refinancing opportunities are emerging as rates dip, potentially saving borrowers significant amounts.
Economic indicators suggest a potential rate cut by the Fed in September, depending on inflation trends.
Home prices are projected to rise modestly due to limited housing supply and lower mortgage rates.