U.S. Mortgage Rates Fall to 6.2%, Lowest Since Early 2023

Published On Sep 12, 2024, 12:25 PM

Mortgage rates in the U.S. have dropped to 6.2%, the lowest in over a year and a half, driven by economic data indicating a slowing economy. This decline extends a trend that began in April and was influenced by lower U.S. Treasury yields and expectations of the Federal Reserve cutting interest rates. While lower rates could boost buyer and seller activity, high home prices and limited supply are still significant challenges in the housing market.