Last year on September 18th, mortgage rates fell to a two-year low as markets anticipated the Fed would cut. That same day, the Fed delivered a 50 bps cut.
Today we’re seeing the same setup. The average 30-year fixed mortgage slipped 0.12% from yesterday to 6.13%, the lowest since late 2022. But remember, mortgage rates actually climbed after last year’s cuts. Will we see the same pattern this time? We’ll find out soon enough.Source: StockMarket.News
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