Green Energy Profits
  • Crypto News
  • Investing
  • Stock
  • Latest News
Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

Error: Contact form not found.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
Popular Topics
  • Israel-Hamas peace deal reached soon after Trump says it’s ‘very close’ in White House note pass with Rubio
  • Screaming match erupts between Hakeem Jeffries, Mike Lawler as government shutdown chaos continues
  • Trump teases trip to the Middle East as Gaza peace deal talks continue
  • Tense confrontation between House speaker, Senate Dems caught on camera over shutdown
  • Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved socialism fails after killing NYC Amazon deal
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
Green Energy Profits
  • Crypto News
  • Investing
  • Stock
  • Latest News
  • Stock

Mortgage rates see biggest one-day drop in over a year

  • September 5, 2025

The average rate on the 30-year fixed mortgage dropped 16 basis points to 6.29% Friday, according to Mortgage News Daily, following the release of a weaker-than-expected August employment report.

It’s the lowest rate since Oct. 3 and the biggest one-day drop since August 2024. Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.

“This was a pretty straightforward reaction to a hotly anticipated jobs report,” said Mortgage News Daily Chief Operating Officer Matt Graham. “It’s a good reminder that the market gets to decide what matters in terms of economic data, and the bond market has a clear voting record that suggests the jobs report is always the biggest potential source of volatility for rates.”

Graham said in a post on X that many lenders are “priced better” than Oct. 3 and would be quoting in the high 5% range.

The drop is a major change from May, when the rate on the 30-year fixed peaked at 7.08%. It’s big for buyers out shopping for a home today, especially given high home prices.

Take, for example, someone purchasing a $450,000 home, which is just above August’s national median price, using a 30-year fixed mortgage with a 20% down payment. Not including taxes or insurance, the monthly payment at 7% would be $2,395. At 6.29%, that payment would be $2,226, a difference of $169 per month.

That might not sound like a lot to some, but it can mean the difference in not just affording a home, but qualifying for a mortgage.

Homebuilder stocks reacted favorably Friday, with names like Lennar, DR Horton and Pulte all up roughly 3% midday. Homebuilding ETF ITB has been running hot for the last month as rates slowly moved lower. It’s up close to 13% in the past month.

The big question is whether the drop in rates will be enough to get homebuyers back in the market.

Mortgage demand from homebuyers, an early indicator, have yet to respond to gradually improving rates. Applications for a mortgage to purchase a home last week were 6.6% lower from four weeks before, according to the Mortgage Bankers Association.

“Homebuyers grapple with a lack of affordability, sellers contend with more competition, and builders deal with lower buyer demand,” Danielle Hale, chief economist at Realtor.com, said Friday in a statement after the release of the August employment report. “These conditions haven’t spelled catastrophe, but have created a cruel summer for the housing market.”

Some analysts have argued that buyers need to see mortgage rates in the 5% range before it really makes a difference. Home prices remain stubbornly high, and while the gains have definitely cooled, they are not yet coming down on a national level. In addition, uncertainty about the state of the economy and the job market has left many would-be buyers on the sidelines.

This post appeared first on NBC NEWS

Previous Article
  • Latest News

Trump trashes Nadler on heels of Dem’s House retirement announcement: ‘One of the most disgusting Congressmen’

  • September 5, 2025
View Post
Next Article
  • Latest News

Justice Barrett opens up about ‘awkward’ start on SCOTUS, shadow docket and more in forthcoming memoir

  • September 5, 2025
View Post

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular Topics
    • Israel-Hamas peace deal reached soon after Trump says it’s ‘very close’ in White House note pass with Rubio
    • Screaming match erupts between Hakeem Jeffries, Mike Lawler as government shutdown chaos continues
    • Trump teases trip to the Middle East as Gaza peace deal talks continue
    • Tense confrontation between House speaker, Senate Dems caught on camera over shutdown
    • Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved socialism fails after killing NYC Amazon deal
    Copyright © 2025 greenenergyprofits.com | All Rights Reserved
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Input your search keywords and press Enter.