Bullet points of Mortgage and refinance rates today, September 6, 2024: Rates drop 77 basis points in a year

Bullet points of Mortgage and refinance rates today, September 6, 2024: Rates drop 77 basis points in a year
- Mortgage rates have remained stagnant, with the 30-year fixed rate at 6.35% and the 15-year fixed rate at 5.47%
- Rates are lower than a year ago, with the 30-year rate dropping by 77 basis points and the 15-year rate plummeting by 1.05%
- It may be a good time to refinance, especially for those who bought their homes in the last couple of years when rates were high
- The current mortgage rates are 5.79% for a 30-year fixed, 5.56% for a 20-year fixed, 5.10% for a 15-year fixed, and 4.60% for a 5/1 FHA
- Mortgage refinance rates are often higher than rates when buying a house, but not always
- The Federal Reserve is expected to cut the federal funds rate, which could lead to lower mortgage rates
- Economists predict 30-year fixed mortgage rates to end the year between 6.4% and 6.5%