Could September Finally Bring Better Mortgage Rates?

Buying a Home Could Be a Possibility in a Few Months                                                                                                                                                                                                                                                                                                                                                                                                                 August 11, 2024 | [Read Online]( Buying a Home Could Be a Possibility in a Few Months Today’s News! Good Morning! Thanks for taking the time to read our newsletter, and we have lots to share with you! Cartoon of the Day Feds Could Cut Rates in September The Federal Reserve is on the brink of reducing interest rates as early as September, a move that has already precipitated a decline in mortgage rates. This anticipatory action suggests further decreases in borrowing costs even before the central bank officially intervenes. Currently, the average rate on a 30-year fixed-rate mortgage has dipped to its lowest since early February, according to Freddie Mac, which reported a decrease to 6.73% from a high of over 7.2% earlier in the year. Updated weekly data is expected to be released by Freddie Mac this Thursday. Amid a broader market movement where stocks have retreated and bonds have surged, mortgage rates have seen an additional drop. Mortgage News Daily reports that the average rate earlier this week fell to a remarkable low of 6.3%, the lowest in over a year. This bond rally, particularly noticeable during the stock market downturn, has seen the yield on the 10-year Treasury note fall to a year-long low of below 3.7% at its peak on Monday. Douglas Duncan, chief economist at Fannie Mae, elucidated the relationship between Treasury yields and mortgage rates in a discussion with Yahoo Finance. "The 10-year [Treasury] comes down, the mortgage rate typically comes down with it. Maybe not as far, maybe sometimes further. It depends on what else is happening in the market," Duncan stated. This is an advertisement [A Dark Day is Coming…]( Big government is taking over, and that should scare us all. There’s no telling what could happen to our financial systems, our savings accounts, and more. [Are you prepared?]( Video of The Day [YouTube video by The Political Movement]( Paris' Polluted Past Haunts Olympic Dreams This email has ads brought to you by our sponsors. [tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume the sender of this email has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this message and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. 4801 Linton Blvd. #11A-636 Delray Beach, FL 33445, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](