Mortgage rates have edged downward again, giving a break to homebuyers and those considering refinancing. As of mid-September 2025:
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The average rate on a 30-year fixed mortgage dropped to 6.26%, down from 6.35% one week earlier.
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The average rate for a 15-year fixed mortgage fell to 5.41%, from 5.50% the previous week.
Why the Drop?
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Treasury bond yields have eased, which tends to pull mortgage rates down.
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The Federal Reserve recently made its first rate cut this year, and is signaling two more cuts may come before year’s end.
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Market expectations for inflation, economic growth, and jobs are influencing lenders and investors. Slower growth or less inflation pressure pushes rates lower.
What It Means for You
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If you’re thinking of buying a home, this drop could improve your purchasing power—lower monthly payments or ability to qualify for a larger loan.
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If you refinanced your mortgage, especially from a higher-rate loan, now might be a good time to run numbers.
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But keep in mind: rates can shift again if inflation picks up, or economic indicators surprise to the upside.
Overall, the trend is positive for prospective homeowners or those seeking to refinance. It’s a reminder that watching economic signals and rate forecasts can pay off. We are always here to help when ready to buy a home!
