Mortgage Rates Drop to 16-Month Low After Disappointing Jobs Report

Mortgage rates hit a yearly low after a weak jobs report drives U.S. Treasury yields down
Mortgage Rates Drop to 16-Month Low After Disappointing Jobs Report
A home available for sale is shown in Austin, Texas, on May 22, 2024. Brandon Bell/Getty Images
Tom Ozimek
Updated:
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The two most popular mortgage rates in the United States have fallen to their lowest levels in over a year as a weak jobs report sent U.S. Treasury yields falling.

The benchmark 30-year fixed-rate mortgage, the most popular type of home loan, fell to 6.4 percent on Aug. 2, according to the MND Index, which tracks real-time changes in actual lender rates across America. This is the lowest level since April 13, 2023, when the 30-year fixed stood at 6.39 percent.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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