Mortgage Rates at Lowest Level Since October
Rates on 30-year mortgages fell to 6.58% from 6.63% last week while 15-year rates dropped to 5.71% from 5.75%, Freddie Mac said.
Appraisal Reports Getting a Major Update
Starting September, lenders will phase in a standardized, data-driven appraisal format. Agents should prepare for clearer, more consistent reports.
Housing Market Poised for Gradual Recovery
U.S. housing shows early signs of stabilization as affordability may improve slightly in 2025, an economist said. The market is gradually balancing.