Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month.
The current median interest rate is 5.990% for a 30-year fixed-rate mortgage and 4.990% for a 15-year fixed-rate mortgage.
Homebuyers are rushing to take advantage of lower mortgage rates following the Federal Reserve’s recent interest rate cut.
The median interest rate on a 30-year fixed-rate mortgage is 5.990% as of September 19, which is unchanged from yesterday.
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