Washington Examiner
Mortgage rates declined to their lowest level since February 2023 after the Federal Reserve instituted a significant interest rate cut.
In the past week, the standard 30-year fixed-rate mortgage averaged 6.09%, according to data released by Freddie Mac on Thursday, compared to 6.35% the week of Sept. 5 and a peak of 7.76% in November 2023.
This marks the lowest rate since February 2023 and is likely due to the Fed’s interest rate cut implemented Wednesday.
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