Facts: The 30-year fixed mortgage rate from Freddie Mac remained essentially flat at 6.49% this week compared to 6.47% last week. At 6.49%, with 20% down, a monthly mortgage payment on a home with a price of $400,000 is $2,021. With 10% down, the typical payment would be $2,273.

Positive: Despite weekly volatility, mortgage rates remain at .5% below the average over the last year. Mortgage applications showed a 19-month high. CPI showed inflation has been tamed. The Federal Reserve will cut the Fed Funds rate. For home buyers looking for lower rates than that of the past year—they are lower.

Negative: Mortgage interest rates may still not be low enough for homeowners with golden handcuffs who have a mortgage under 4% to make a move—unless there is a compelling reason like a family or job change. While the Fed Funds rate cut is expected, mortgage interest rates should stay in the 6 percent range.
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