Mortgage rates drop to the lowest level since late 2022 ahead of the Fed meeting. Here's why.

Mortgage rates drop to the lowest level since late 2022 ahead of the Fed meeting. Here's why.

The central bank lowered rates for the first time since 2024 as the labor market shows signs of weakening.

Mortgage rates have been mostly falling since late July on expectations of a rate cut by the central bank. Here it is.