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average mortgage ratesCNET
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82% Informative
The average interest rate for a standard 30-year fixed mortgage is 6.56% today , up 0.06% since one week ago .
The Fed is set to make its first interest rate cut in September .
With inflation at its lowest level since spring 2021 and the labor market cooling, the Fed will likely lower rates at its September meeting.
Though mortgage rates and home prices are high, the housing market won’t be unaffordable forever.
It’s always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate.
Getting a mortgage should always depend on your financial situation and long-term goals.
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