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Fortune
Fortune
Alena Botros

In a week of back-to-back housing data, here’s what you need to know

Home Prices Lawrence Yun US Federal Reserve
(Credit: Getty Images)

It’s housing data galore, so let me bring you up to speed.

In anticipation of the Federal Reserve’s first interest rate cut in years, mortgage rates plummeted this summer, especially in August. Then the Fed actually cut its key interest rate by half a point last week, and mortgage rates fell a bit more. The latest reading showed the weekly average 30-year fixed mortgage rate came in at 6.08% today. (Daily mortgage rates are higher, at 6.21%.)

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