WASHINGTON— Mortgage rates continue their decline in the wake of weaker-than-expected jobs numbers and the expectation that the Federal Reserve will lower interest rates this year.
The average rate for a 30-year fixed mortgage fell to 6.29% as of Sept. 5, the lowest level since October and down 16 basis points from a day earlier, according to Mortgage News Daily.
As the CU Daily has been reporting, many real estate analysts have said it will take mortgage rates dipping below 6% to really spark the market.
Buyer Sentiment Decreases
While loans for originations have been down, refinancing activity has been up.
Meanwhile, Fannie Mae said its August 2025 National Housing Survey® (NHS), which includes the Home Purchase Sentiment Index® (HPSI), found that month over month, the HPSI decreased 0.4 points to 71.4. Year over year, the HPSI is down 0.7 points.
