Mortgage Rates Show Mixed Trends as Market Awaits Federal Reserve Decision

30-year fixed-rate mortgages hover around 6.38%, while 15-year rates remain below 5.8% amid expectations of rate cuts.

Current average rate for a 30-year fixed mortgage is 6.38%, slightly down from last week.
15-year mortgage rates are averaging 5.76%, showing minor fluctuations.
Federal Reserve is anticipated to cut benchmark rates in September, influencing future mortgage rates.
Despite lower rates, homebuyer activity remains sluggish due to high home prices and economic uncertainty.
Experts suggest potential further declines in mortgage rates through 2025 as inflation cools.