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Mortgage Rates Hit 2025 Low Amid Fed Rate Cut Expectations
Mortgage Rates Hit 2025 Low Amid Fed Rate Cut Expectations
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BTCCSquare news:
Mortgage rates fell to their lowest level since October 2024 this week, with the 30-year fixed rate dropping to 6.58% and the 15-year fixed rate declining to 5.71%. The downward trend follows weak job growth data and softer-than-expected inflation figures, reinforcing market expectations of a Federal Reserve rate cut in September.
Traders now price in a 91% probability of a 25-basis-point reduction next month. While lower borrowing costs offer relief to homebuyers, economists caution that rates may not decline much further. "The mortgage rates that buyers can lock in today have likely bottomed for now," said Redfin's Chen Zhao.
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