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Mortgage Rates Dip to 6.15% Amid Economic Shifts

1/3/2026

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Summary

Story summary

Mortgage rates for the 30-year fixed have fallen to 6.15%, the lowest level since 2024, with GDP growing 4.3%.
The drop follows expectations that the Federal Reserve will cut rates as hiring slows.
The housing market faces a lock-in effect as current homeowners hesitate to sell.
Unemployment rose to 4.6%.
The Fed's cautious stance may limit further rate cuts.

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Story summary

Mortgage rates for the 30-year fixed have fallen to 6.15%, the lowest level since 2024, with GDP growing 4.3%.
The drop follows expectations that the Federal Reserve will cut rates as hiring slows.
The housing market faces a lock-in effect as current homeowners hesitate to sell.
Unemployment rose to 4.6%.
The Fed's cautious stance may limit further rate cuts.