Cheaper Mortgage Payments Prompt Only a Modest Rise in Homebuying

MPA, Sept. 5, 2025-Liezel Once
The average US mortgage rate dropped to its lowest point in over 10 months, bringing some relief to buyers but failing to ignite a surge in homebuying demand, according to Redfin’s latest report. The median monthly housing payment fell to $2,593 in late August, the lowest since January, as the weekly average 30-year fixed mortgage rate slipped to 6.56%.
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