Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month.
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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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.