Mortgage Rates Hit 15-Month Low After Dismal Jobs Report. Today's Mortgage Rates, Aug. 6, 2024

Category: Finance

The average interest rates for 30-year and 15-year fixed mortgages are currently 6.69% and 6.14%, respectively, with projections for lower rates in the coming months due to potential Federal Reserve interest rate cuts. Homebuyers face challenges from high rates and prices, but experts suggest rates may fall to around 6.5% soon. Tips for securing better mortgage rates include saving for a larger down payment, improving credit scores, and shopping around for lenders.

Keywords: Mortgage Rates, Interest Rates, Home Buying

Source: CNET

Update At: 8/6/2024

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