30-year US mortgage rate falls to 6.08%, lowest in two years, due to Federal Reserve interest rate cuts.
The average 30-year mortgage rate in the U.S. has fallen to 6.08%, the lowest in two years, according to Freddie Mac. This decrease follows a trend since July, influenced by the Federal Reserve's recent interest rate cuts. While the Fed does not directly control mortgage rates, its actions create conditions for further declines, enhancing homebuyers' purchasing power amid high housing prices.
September 26, 2024
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