\n <\/p>\n
Email
\n <\/a> <\/p>\n
X<\/p>\n
LinkedIn<\/p>\n
Reddit<\/p>\n
Bluesky<\/p>\n
WhatsApp<\/p>\n
Copy link<\/p>\n
lighning bolt icon
\n An icon in the shape of a lightning bolt.<\/p>\n
Impact Link<\/p>\n
Save
\n Saved<\/p>\n
<\/p>\n Read in app<\/p>\n <\/a> <\/p>\n This story is available exclusively to Business Insider The frozen housing market<\/a> just flashed one of its most promising signs yet that its deep freeze may be ending: mortgage rates<\/a> are finally coming down, and not just by a small amount.<\/p>\n The rate on the 30-year fixed mortgage<\/a> dropped to its lowest level in about a year in the last week, according to data from the Mortgage Bankers Association.<\/p>\n The MBA estimates that the 30-year fixed rate fell 15 basis points to around 6.49% in the week ending September 5. Freddie Mac data also shows that the 30-year fixed rate settled at 6.5% in the last week, the lowest level in about 11 months.<\/p>\n<\/p>\n Borrowing costs for the 15-year fixed mortgage<\/a> and the 5\/1 adjustable rate mortgage<\/a> have also improved. Both rates dropped to around 5.7% in the last week, the lowest in nearly a year.<\/p>\n Borrowing activity, meanwhile, has been picking up. Mortgage applications<\/a> jumped 9.2% in the week ending September 5 compared to the prior week, while refinancing<\/a> activity rose 12% over the last week and climbed 34% compared to the same week last year, MBA data shows.<\/p>\n The spur in activity and drop in rates has largely been fueled by recent weakness in the job market<\/a>, according to Joel Kan, the vice president and deputy chief economist of the MBA.<\/p>\n Expectations that the Fed will cut rates to boost the economy and prop up the labor market have helped push down the 10-year US Treasury yield, which is the benchmark for long-term mortgage rates.<\/p>\n<\/p>\n “The downward rate movement spurred the strongest week of borrower demand since 2022, with both purchase and refinance applications moving higher,” Kan wrote on Tuesday.<\/p>\n Related stories<\/p>\n Business Insider tells the innovative stories you want to know<\/p>\n Business Insider tells the innovative stories you want to know<\/p>\n Lower borrowing costs offer a glimmer of hope for prospective homebuyers, who have been sidelined for the past several years amid a lack of inventory and poor housing affordability<\/a>.<\/p>\n Both parts of the puzzle are flashing signs that they’re starting to improve. Sellers are now outpacing buyers<\/a> in the market at the fastest pace in over a decade, according to a May analysis from Redfin. The median sale price for a house<\/a>, meanwhile, ticked lower to $410,800 in the second quarter, according to the US Census Bureau.<\/p>\n","protected":false},"excerpt":{"rendered":"2025-09-11T16:00:06Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the…\n","protected":false},"author":3,"featured_media":218579,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[26859,119283,119282,64,119287,8166,70526,12857,119284,26822,17470,135,76608,119286,119285,86541,67,132,68,1628],"class_list":{"0":"post-218578","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-rate","9":"tag-borrowing-activity","10":"tag-borrowing-cost","11":"tag-business","12":"tag-glimmer","13":"tag-housing-market","14":"tag-inventory","15":"tag-job-market","16":"tag-joel-kan","17":"tag-last-week","18":"tag-low-level","19":"tag-markets","20":"tag-mortgage-rate","21":"tag-poor-housing-affordability","22":"tag-promising-sign","23":"tag-september","24":"tag-united-states","25":"tag-unitedstates","26":"tag-us","27":"tag-year"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115186573523171822","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/218578","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=218578"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/218578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/218579"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=218578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=218578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=218578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n subscribers. Become an Insider<\/a>
\n and start reading now.
\n Have an account? Log in.<\/p>\n\n
![\"\"\/](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/placeholder.png\")
<\/p>\n<\/p>\n