As mortgage rates continue to fall, the decline is reshaping the housing market for homebuyers. Kinga Krzeminska/Getty Images

After several years of painful affordability pressures, mortgage rates are finally edging lower . Case in point? Just before the Federal Reserve's September 2025 rate cut, average mortgage rates dipped to 6.13% , the lowest point for mortgage rates in the last three years. Rates then bounced back briefly in early October, only to slide again in recent weeks. As of now, 30-year conventional mortgage rates hover near 6.19% on average , and with another Fed rate cut all but expected on October 29, many lenders are already starting to price that shift into their rates.

That's welcome news for would-be homebuyers, many of whom have spent years waiting out t

See Full Page