Mortgage Rates Show Slight Decline Across Most Loan Types

Recent data indicates minor drops in refinance and purchase rates, with the Federal Reserve poised for potential rate cuts.

30-year fixed mortgage rates now average 6.38% for purchase and 6.35% for refinance.
15-year mortgage rates have decreased slightly, with conforming rates at 5.68% for purchase and 5.70% for refinance.
Jumbo loan rates also saw a small decline, with 30-year fixed rates at 6.54%.
The Federal Reserve is expected to announce its first rate cut in four years during its upcoming policy meeting.
Labor market data and inflation trends are influencing the Federal Reserve's decisions on interest rates.