Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Mortgage Rates Plummet Ahead of Fed Rate Cut: Today’s Mortgage Rates, Sept. 12, 2024
Cnet ^ | 09/12/2024 | Katherine Watt Edited by Laura Michelle Davis

Posted on 09/13/2024 3:09:42 PM PDT by ChicagoConservative27

For a 30-year fixed-rate mortgage, the average rate you’ll pay is 6.27% today, a decrease of -0.17% since one week ago. The average rate for a 15-year fixed mortgage is 5.53%, which is a decrease of -0.25% from the same time last week. For a closer look at mortgage predictions this week, see here.

With inflation at its lowest level since spring 2021 and a weakening labor market, the Federal Reserve is set to make its first interest rate cut in September, which should help mortgage rates fall in the coming months. Generally speaking, bad news for the economy means good news for mortgage rates. Though prospective homebuyers are starting to emerge from the sidelines, it will take more than lower mortgage rates to repair today’s unaffordable housing market.

(Excerpt) Read more at cnet.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bidenomics; cut; fed; mortgage; rate
Thoughts? Concerns?
1 posted on 09/13/2024 3:09:42 PM PDT by ChicagoConservative27
[ Post Reply | Private Reply | View Replies]

To: ChicagoConservative27

I just have a very different idea of what the word “plummet” means.


2 posted on 09/13/2024 3:15:01 PM PDT by katana
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

Historically speaking those are normal mortgage rates. The problem isn’t interest rates, which are about to be barely moved. The problem is the lack of value in the dollar and a housing shortage due to construction not keeping up with population growth for about 10 years now. There is no way to solve that quickly.


3 posted on 09/13/2024 3:21:13 PM PDT by SaxxonWoods (This world is driven by envy, not greed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: katana

Agreed—the headlines greatly exaggerate the reality in so many areas.

This is a minor reduction.


4 posted on 09/13/2024 3:24:42 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
[ Post Reply | Private Reply | To 2 | View Replies]

To: All

Plummet?????


5 posted on 09/13/2024 3:29:17 PM PDT by mmichaels1970
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

Maybe an election is soon.


6 posted on 09/13/2024 3:32:55 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

a decrease of -0.17% since one week ago.

Plumett???


7 posted on 09/13/2024 3:35:23 PM PDT by Varsity Flight ( "War by 🙏 the prophesies set before you." I Timothy 1:18. Nazarite warriors. 10.5.6.5 These Days)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mmichaels1970

😏🚩


8 posted on 09/13/2024 3:36:28 PM PDT by Varsity Flight ( "War by 🙏 the prophesies set before you." I Timothy 1:18. Nazarite warriors. 10.5.6.5 These Days)
[ Post Reply | Private Reply | To 5 | View Replies]

To: ChicagoConservative27

Can someone send some of that “lowest level inflation since 2021* here to South Florida?
Id really like to afford to take my family out to eat again


9 posted on 09/13/2024 4:07:48 PM PDT by jmaroneps37 (Freedom is never free. It must be won rewon and jealously guarded.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

Recession!


10 posted on 09/13/2024 4:19:52 PM PDT by Ge0ffrey
[ Post Reply | Private Reply | To 1 | View Replies]

To: mmichaels1970

Clickbait works!


11 posted on 09/13/2024 4:56:04 PM PDT by TexasGator (l . . l / l / . l)
[ Post Reply | Private Reply | To 5 | View Replies]

To: ChicagoConservative27

I MUST HAVE A DIFFERENT DICTIONARY-—

THAT IS NOT A ‘PLUMMET”

IT is 1/6 of a percent


12 posted on 09/13/2024 5:02:54 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SaxxonWoods

THE “HOUSING SHORTAGE” IS NOT THE FAULT OF CONSTRUCTION FALLING BEHIND.

IT IS THE FAULT OF BIDEN/HARRIS SWARMING OVER 15 MILLION INVADERS into THE USA.


13 posted on 09/13/2024 5:04:13 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Varsity Flight

At current values it could be considered a dramatic drop. I don’t buy it but WTF do I know.


14 posted on 09/13/2024 6:15:56 PM PDT by wgmalabama (Slug Slime is not art it’s just mucus to grease the wheels of servitude. )
[ Post Reply | Private Reply | To 7 | View Replies]

To: SaxxonWoods
Housing shortage? Plenty of homes, not only that but the US has massive amounts of people who have 2nd homes. People even rent out homes so people can sleep in them, even for one night, hah.

The entire point of government is to make housing expensive, either via tax write offs, tax incentives to prop up housing, tax advantages, allowance of foreign ownership and investment, building codes, non market rate interest rates, grants, gov loans, etc etc.

15 posted on 09/13/2024 6:46:33 PM PDT by Theoria
[ Post Reply | Private Reply | To 3 | View Replies]

To: ChicagoConservative27

Won’t help. Too little too late.

My friends who are mortgage brokers are starving.


16 posted on 09/13/2024 7:55:29 PM PDT by Texas resident (Que Mala= Bad Juju.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

“Plummet”?


17 posted on 09/13/2024 8:47:12 PM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Theoria

I take it you didn’t have a career in real estate.


18 posted on 09/14/2024 8:59:10 AM PDT by SaxxonWoods (This world is driven by envy, not greed.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: SaxxonWoods

Market forces apply to real estate, not a real estate professional but I’ve bought and sold homes for myself. Those forces are tied to government more so than anything else out there.


19 posted on 09/14/2024 9:05:25 AM PDT by Theoria
[ Post Reply | Private Reply | To 18 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson