{"id":203645,"date":"2025-09-06T00:34:12","date_gmt":"2025-09-06T00:34:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/203645\/"},"modified":"2025-09-06T00:34:12","modified_gmt":"2025-09-06T00:34:12","slug":"mortgage-rates-fall-to-lowest-daily-level-since-october-2024","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/203645\/","title":{"rendered":"Mortgage rates fall to lowest daily level since October 2024"},"content":{"rendered":"\n<p class=\"yf-1090901\">Mortgage rates just hit their lowest daily level in a year.<\/p>\n<p class=\"yf-1090901\">Following <a href=\"https:\/\/finance.yahoo.com\/news\/eyes-friday-jobs-report-july-192907966.html\" data-ylk=\"slk:a Friday jobs report;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" target=\"_blank\" rel=\"noopener\"> a Friday jobs report <\/a> that showed a labor market in the red zone, <a href=\"https:\/\/www.mortgagenewsdaily.com\/markets\/mortgage-rates-09052025\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Mortgage News Daily;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"> Mortgage News Daily <\/a> reported that the average for a 30-year fixed rate mortgage dropped to 6.29% Friday. The day before it was at 6.45%.<\/p>\n<p class=\"yf-1090901\">The outlet said this is the same level as what the market saw in the fall of last year. Mortgage rates haven\u2019t been below 6% since September 2022, according to <a href=\"https:\/\/www.freddiemac.com\/pmms\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Freddie Mac data;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"> Freddie Mac data <\/a>.<\/p>\n<p class=\"yf-1090901\">MND\u2019s COO Matt Graham said in <a href=\"https:\/\/x.com\/MG_MBS\/status\/1963991772851515683\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:a post;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"> a post <\/a> on X that \u201cmany lenders are priced better than 10\/3\/24 at rates of 6.125%, and many lenders will be quoting in the high 5&#8217;s today.\u201d<\/p>\n<p class=\"yf-1090901\">Graham wrote in MND\u2019s article that \u201cweaker jobs numbers prompt investors to buy bonds,\u201d adding that when \u201cinvestors buy bonds, the price of those bonds goes up\u201d and when \u201cbond prices go up, rates go down.\u201d<\/p>\n<p class=\"yf-1090901\">Friday\u2019s latest jobs report showed an already weak market cooling down even more. For the month of August, nonfarm payrolls rose by just 22,000, the weakest monthly gain since April \u2014 and significantly short of economists\u2019 expectations of roughly 75,000 new jobs.<\/p>\n<p class=\"yf-1090901\">The unemployment rate ticked up to 4.3%, a near four-year high, and wages rose 0.3% on the month (3.7% year over year), the slowest annual wage growth since July 2024.<\/p>\n<p class=\"yf-1090901\">Within minutes of the jobs report\u2019s release, the S&amp;P 500 and Nasdaq surged to record highs as investors saw renewed justification for a September rate cut. At the same time, Treasury yields dropped sharply \u2014 the two-year fell toward 3.5 to 3.6%, the lowest in years \u2014 and the dollar weakened against other currencies.<\/p>\n<p class=\"yf-1090901\">Major markets \u2014 including the Dow Jones Industrial Average, S&amp;P 500, and Nasdaq \u2014 were down after the market closed on Friday.<\/p>\n<p class=\"yf-1090901\">\u2014 Shannon Carroll contributed to this article.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Mortgage rates just hit their lowest daily level in a year. Following a Friday jobs report that showed&hellip;\n","protected":false},"author":3,"featured_media":203646,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,79,50846,112384,112383,14606,2179,67,132,68],"class_list":{"0":"post-203645","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-jobs-report","11":"tag-matt-graham","12":"tag-mortgage-news-daily","13":"tag-mortgage-rates","14":"tag-unemployment-rate","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115154548671935483","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/203645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=203645"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/203645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/203646"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=203645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=203645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=203645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}