Mortgage rates have fallen to 6.23 percent ahead of another expected cut by the Federal Reserve in December, slightly improving housing affordability for millions of Americans.

“The Freddie Mac 30-year fixed mortgage rate edged down 3 basis points this week, to 6.23 percent, as delayed economic data trickles in and a divided Fed leans toward a December cut,” Realtor.com senior economist Jake Krimmel said in a statement shared with Newsweek .

“After the delayed September jobs report delivered mixed signals, several Fed key officials hinted they would back another rate cut, even despite some likely dissent on the committee.”

Why Are Mortgage Rates Sliding Now?

The average 30-year fixed-rate mortgage, the most popular home loan among Americans, was down to 6.23 percent as of November 26

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