{"id":81866,"date":"2025-08-21T05:00:26","date_gmt":"2025-08-21T12:00:26","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81866"},"modified":"2025-08-20T14:30:40","modified_gmt":"2025-08-20T21:30:40","slug":"housing-market-update-mortgage-rates-fall-to-10-month-low","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-fall-to-10-month-low\/","title":{"rendered":"Mortgage Rates Drop to 10-Month Low, Pushing Down Monthly Housing Payments"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. But home sales are still lackluster, declining slightly from a year ago.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">The typical homebuyer\u2019s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May\u2019s all-time high.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Housing payments are falling mainly because mortgage rates are falling. The weekly average mortgage rate dropped to a 10-month low of <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">6.58%<\/span><\/a><span style=\"font-weight: 400;\"> last week in the wake of a <\/span><a href=\"https:\/\/www.redfin.com\/news\/mortgage-rates-to-fall-following-weak-july-jobs-report\/\"><span style=\"font-weight: 400;\">weak July jobs report<\/span><\/a><span style=\"font-weight: 400;\"> and a <\/span><a href=\"https:\/\/www.redfin.com\/news\/september-rate-cut-likely-after-as-expected-july-inflation-report\/\"><span style=\"font-weight: 400;\">neutral inflation report<\/span><\/a><span style=\"font-weight: 400;\">. It\u2019s worth noting that another reason for declining payments is the seasonality of home-sale prices; they typically peak in late spring and have begun falling by this time of year.\u00a0<\/span><\/p>\n<p><b>There are several reasons serious house hunters should consider jumping into the market:<\/b><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mortgage rates are unlikely to fall further. <\/b><span style=\"font-weight: 400;\">Today\u2019s mortgage rates have already <\/span><a href=\"https:\/\/www.redfin.com\/news\/september-rate-cut-likely-after-as-expected-july-inflation-report\/\"><span style=\"font-weight: 400;\">priced in<\/span><\/a><span style=\"font-weight: 400;\"> the Fed\u2019s anticipated September interest rate cut; Redfin head of economics research Chen Zhao says the actual rate cut <\/span><a href=\"https:\/\/www.redfin.com\/news\/weekly-economics-update-august-18\/\"><span style=\"font-weight: 400;\">won\u2019t move the needle<\/span><\/a><span style=\"font-weight: 400;\">. Homebuyers have gained about <\/span><a href=\"https:\/\/www.redfin.com\/news\/mortgage-rates-fall-purchasing-power-increases\/\"><span style=\"font-weight: 400;\">$20,000 in purchasing power<\/span><\/a><span style=\"font-weight: 400;\"> since rates hit a peak in May; it\u2019s a good time to lock in a payment.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Home prices are rising. <\/b><span style=\"font-weight: 400;\">Monthly payments are falling despite home-sale prices increasing from a year ago. The median U.S. sale price was $394,498 during the four weeks ending August 17, up 1.9% year over year, the biggest increase in four months. Prices may continue accelerating because inventory is decelerating.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Supply of for-sale homes is dwindling. <\/b><span style=\"font-weight: 400;\">New listings are up just 0.5% year over year, and while the <\/span><i><span style=\"font-weight: 400;\">total <\/span><\/i><span style=\"font-weight: 400;\">number of homes for sale is up 10.7%, that\u2019s the smallest increase in nearly 18 months. Some would-be sellers are pulling back because demand is slow, and they don\u2019t want to sell their homes for less money than expected.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Homes are taking a long time to sell, giving buyers negotiating power\u2013for now. <\/b><span style=\"font-weight: 400;\">The typical home is spending 42 days on the market before going under contract, a week longer than last year and the longest span for this time of year since 2019. Redfin agents report that for listings sitting longer than a few weeks, sellers are often willing to negotiate. They\u2019re accepting offers under asking price and\/or <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-seller-concessions-march-2025\/\"><span style=\"font-weight: 400;\">making concessions<\/span><\/a><span style=\"font-weight: 400;\"> to close the deal.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u201cI\u2019m telling serious buyers that they have leverage right now\u2013and in the Bay Area, that has been unheard of for a long time,\u201d said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/josh-felder\"><span style=\"font-weight: 400;\">Josh Felder<\/span><\/a><span style=\"font-weight: 400;\">, a Redfin Premier agent in San Francisco. \u201cThere\u2019s less competition than usual because of economic uncertainty, and the market is no longer tilted in sellers\u2019 favor. I just submitted an offer for a client on a townhouse in Mountain View, which is in Google land and would have gotten between five and 10 offers a year ago. We offered close to the asking price with no competition, and got it. Prices are still high, but first-time buyers have a window.\u201d<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201c<\/span><\/i><a href=\"https:\/\/www.redfin.com\/news\/from-our-economists\/\"><i><span style=\"font-weight: 400;\">From Our Economists<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">\u201d page.<\/span><\/i><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3>Leading indicators<\/h3>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"5\"><b>Indicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Value (if applicable)<\/b><\/td>\n<td><b>Recent change<\/b><\/td>\n<td><b>Year-over-year change<\/b><\/td>\n<td><b>Source<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Daily average 30-year fixed mortgage rate<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.61% (Aug. 20)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up from 6.53% a week earlier, but still near 10-month low<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Essentially flat<\/span><\/td>\n<td><a href=\"https:\/\/www.mortgagenewsdaily.com\/mortgage-rates\/30-year-fixed\"><span style=\"font-weight: 400;\">Mortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><b>Weekly average 30-year fixed mortgage rate<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.58% (week ending Aug. 14)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10-month low<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up from 6.49%<\/span><\/td>\n<td><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">Freddie Mac<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><b>Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Essentially flat (+0.1%) from a week earlier (as of week ending Aug. 15)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up 23%<\/span><\/td>\n<td><a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2025\/08\/20\/mortgage-applications-decrease-in-latest-mba-weekly-survey\"><span style=\"font-weight: 400;\">Mortgage Bankers Association<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Redfin Homebuyer Demand Index<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Down 1%\u00a0 from a month earlier (as of week ending Aug. 17)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down 8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">A measure of tours and other homebuying services from Redfin agents<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Google searches of \u201chomes for sale\u201d<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Down 10% from a month earlier (as of Aug. 20)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up 10%<\/span><\/td>\n<td><a href=\"https:\/\/trends.google.com\/trends\/explore?date=today%205-y&amp;geo=US&amp;q=homes%20for%20sale#cmpt=q\"><span style=\"font-weight: 400;\">Google Trends<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Key housing-market data<\/h3>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"4\"><b>U.S. highlights: Four weeks ending Aug. 17, 2025<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Redfin\u2019s national metrics include data from 400+ U.S. metro areas, and are based on homes listed and\/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.\u00a0<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Four weeks ending Aug. 17, 2025<\/b><\/td>\n<td><b>Year-over-year change<\/b><\/td>\n<td><b>Notes<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Median sale price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$394,498<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.9%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Median asking price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$398,725<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.1%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Median monthly mortgage payment<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$2,614 at a 6.58% mortgage rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lowest level since January<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Pending sales<\/b><\/td>\n<td><span style=\"font-weight: 400;\">82,755<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>New listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">90,617<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Active listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">1,193,043<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Smallest increase since March 2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Months of supply\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">4.2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+0.6 pts.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4 to 5 <\/span><a href=\"https:\/\/www.redfin.com\/definition\/monthsof-supply\"><span style=\"font-weight: 400;\">months of supply<\/span><\/a><span style=\"font-weight: 400;\"> is considered balanced, with a lower number indicating seller\u2019s market conditions\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of homes off market in two weeks\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">32.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 35%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Median days on market<\/b><\/td>\n<td><span style=\"font-weight: 400;\">42<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+6 days<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Share of homes sold above list price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">25.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 29%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Average sale-to-list price ratio\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">98.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 99.2%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<thead>\n<tr>\n<th colspan=\"4\">\n<p style=\"text-align: left;\"><b>Metro-level highlights: Four weeks ending Aug. 17, 2025<\/b><\/p>\n<p style=\"text-align: left;\"><i><span style=\"font-weight: 400;\">Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/span><\/i><\/p>\n<\/th>\n<\/tr>\n<tr>\n<th style=\"text-align: left;\"><\/th>\n<th style=\"text-align: left;\"><b>Metros with biggest year-over-year increases<\/b><\/th>\n<th style=\"text-align: left;\"><b>Metros with biggest year-over-year decreases<\/b><\/th>\n<th>\n<p style=\"text-align: left;\"><b>Notes<\/b><\/p>\n<\/th>\n<\/tr>\n<tr>\n<th style=\"text-align: left;\"><b>Median sale price<\/b><\/th>\n<th style=\"text-align: left;\"><span style=\"font-weight: 400;\">Cleveland (12.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Detroit (11%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pittsburgh (8.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Montgomery County, PA (7.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Baltimore (6.1%)<\/span><\/th>\n<th style=\"text-align: left;\"><span style=\"font-weight: 400;\">Oakland, CA (-4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dallas (-2.9%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">West Palm Beach, FL (-1.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Portland, OR (-1.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Orlando, FL (-1.1%)<\/span><\/th>\n<th>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Declined in 10 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><b>Pending sales<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Pittsburgh (9.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Columbus, OH (6.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cleveland (6.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Phoenix (5.9%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Milwaukee (5.8%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Houston (-18.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Miami (-16.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Seattle (-12.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Diego (-8.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Orlando, FL (-8.6%)<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>New listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA (9.5%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pittsburgh (8.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Baltimore (8.3%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cleveland (7.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Columbus, OH (7.3%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Houston (-13.1%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tampa, FL (-12.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Orlando, FL (-12.2%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">West Palm Beach, FL (-10.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Atlanta (-8.1%)<\/span><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Refer to our <\/span><a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\"><span style=\"font-weight: 400;\">metrics definition page<\/span><\/a><span style=\"font-weight: 400;\"> for explanations of all the metrics used in this report.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-81867 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/sale-price-820.png\" alt=\"\" width=\"902\" height=\"670\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/sale-price-820.png 902w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/sale-price-820-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/sale-price-820-768x570.png 768w\" sizes=\"(max-width: 902px) 100vw, 902px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-81868 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/asking-price-820.png\" alt=\"\" width=\"898\" height=\"668\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/asking-price-820.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/asking-price-820-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/asking-price-820-768x571.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-81869 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/housing-payments-820.png\" alt=\"\" width=\"901\" height=\"670\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/housing-payments-820.png 901w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/housing-payments-820-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/housing-payments-820-768x571.png 768w\" sizes=\"(max-width: 901px) 100vw, 901px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81870 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/pending-sales-820.png\" alt=\"\" width=\"900\" height=\"667\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/pending-sales-820.png 900w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/pending-sales-820-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/pending-sales-820-768x569.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81871 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/new-listings-820.png\" alt=\"\" width=\"898\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/new-listings-820.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/new-listings-820-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/new-listings-820-768x574.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81872 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/active-listings-820.png\" alt=\"\" width=\"899\" height=\"665\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/active-listings-820.png 899w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/active-listings-820-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/active-listings-820-768x568.png 768w\" sizes=\"(max-width: 899px) 100vw, 899px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81873 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed.png\" alt=\"\" width=\"898\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-768x574.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81874 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-1.png\" alt=\"\" width=\"898\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-1.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-1-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-1-768x574.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81875 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-2.png\" alt=\"\" width=\"898\" height=\"669\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-2.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-2-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-2-768x572.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81876 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-3.png\" alt=\"\" width=\"900\" height=\"666\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-3.png 900w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-3-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-3-768x568.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81877 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-4.png\" alt=\"\" width=\"896\" height=\"667\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-4.png 896w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-4-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-4-768x572.png 768w\" sizes=\"(max-width: 896px) 100vw, 896px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-81878 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-5.png\" alt=\"\" width=\"898\" height=\"669\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-5.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-5-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/08\/unnamed-5-768x572.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. But home sales are still lackluster, declining slightly from a year ago.\u00a0 The typical homebuyer\u2019s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May\u2019s all-time high.\u00a0 Housing payments are falling mainly because mortgage rates are [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":81879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,615],"tags":[623,655,654],"dashboard":[],"coauthors":[124],"class_list":["post-81866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-weekly-market-update","tag-national","tag-weekly-market-tracker","tag-weekly-market-update"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mortgage Rates Drop to 10-Month Low, Pushing Down Monthly Housing Payments<\/title>\n<meta name=\"description\" content=\"Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. 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