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Mortgage rates in the U.S. hit a 10-month low at 6.56% on Thursday, according to the Federal Home Loan Mortgage Corporation.

The company reports rising demand due to lower rates and economic growth.

Zions Bank's Jeremy Holmgren suggests buying now as waiting for further rate drops might increase competition.

SALT LAKE CITY — Mortgage rates headed down this week, reaching a 10-month low.

The weekly average in the U.S. for a 30-year fixed-rate mortgage slid to 6.56% Thursday, the Federal Home Loan Mortgage Corporation, better known as Freddie Mac, reported, a drop of 0.02 percentage points from the week ending Aug. 21.

Weekly average rates haven't been below that level since hitting 6.54% in October 2024.

Freddie Mac posted Thursday that

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