US Edition
Mortgage rates see biggest one-day drop in over a year
Mortgage rates dropped to 6.29%, the lowest since October 2024, after August job growth slowed significantly, impacting home affordability and builder stocks rose about 3%.
- Mortgage rates fell sharply on September 5, 2025, after the weaker-than-expected August employment report lowered the 30-year fixed rate to 6.29%.
- This decline follows a broader trend of a cooling labor market and rising unemployment from 4.2% in July to 4.3% in August, which pressures rates downward despite economic concerns.
- Homebuilding stocks like Lennar, DR Horton, and Pulte rose about 3% midday in response, while a homebuyer demand remains muted due to still high home prices and affordability challenges.
- Matt Graham, COO of Mortgage News Daily, explained that the market's response was clear and expected, given the significant attention surrounding the recent jobs report.
- The rate drop may improve affordability by about $169 monthly on a $450,000 home but homebuyers have yet to respond, indicating uncertainty about whether rates alone will revive demand.
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Mortgage Rates at 2025 Lows Thanks to More Weak Employment Data - The Truth About Mortgage
Well, there’s a silver lining to everything. And while the U.S. economy appears as if it’s faltering, at least mortgage rates are lower, right? It’s clearly bittersweet, but the only real way to to get better mortgage rates without direct intervention is with cool economic data. Lower inflation would probably be the most ideal way… Read More »Mortgage Rates at 2025 Lows Thanks to More Weak Employment Data The post Mortgage Rates at 2025 Lows Tha…
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Total News Sources4
Leaning Left2Leaning Right0Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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