Mortgage rates hit 6.5%, the lowest level since October 2024
Real estate mortgage rates fell to a slight decrease again this week after the long weekend day, when it reached the lowest level in the new 2025.
The average mortgage rate for 30 years was 6.5 % this week until Wednesday, according to Freddy Mac data, a decrease from 6.56 % in the previous week. The average rate of 15 years was 5.6 %, a decrease from 5.69 % last week.
Real estate mortgage rates have been about 10 months in recent weeks, although there are little evidence that decline rates have strengthened homes during a slow -season part of the year.
Mortgage requests decreased to buy a house by 3 % compared to a previous week, according to the data of the Bankers Association in the Mortgage, while requests for re -financing increased by 1 %. In a report released on Thursday, RedFin said that lower rates have raised a “step, not a boom”, from domestic demand, most likely because many buyers are still struggling to buy at today’s prices.
Learn more: Is now a suitable time to buy a house?
On Friday, the job report can lead to more price movement next week. Weak recruitment data can indicate that the Federal Reserve needs to accelerate its price reduction plans to help support the labor market. In this scenario, bonds give that mortgage rates closely follow are probable.
Two recent reports indicate that the labor market is weakening. Job opportunities in July were in less than 10 months, according to government data issued on Wednesday. The growth of jobs in the private sector was less than expected last month, as the country added only 54,000, according to the ADP data processing company.
“The signs of weak labor market may enhance the current declining trend in prices,” Kara Nug, the major economist in Zilo, said in a statement. “On the contrary, the unexpected powerful employment numbers can quickly reflect the recent gains.”
Drill Drill: Jobs, inflation, and federal reserves: How do they all associate
Last month, the job report, which showed the growth of weaker jobs than expected in July and the sharp downward reviews in the previous months, helped pushing the mortgage rates to its lowest levels after financial markets have restored expectations for future prices discounts.
Claire Boston is the first correspondence of Yahoo financing that covers housing, mortgages and home insurance.
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2025-09-04 16:00:00
