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The U.S. Housing Market may be slightly more accessible now, with average rates on 30-year fixed mortgages dropping to 6.47%, a rate that has not been seen since May 2023.July or SeptemberThe dropping mortgage rates, although partly due to the Fed’s expected rate drops, are not explicitly controlled by the Federal Reserve.
Mortgage rates fell to the lowest level in more than a year, raising hopes for relief in the battered U.S. housing market.
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