Today, the mortgage interest rate on a 30-year fixed mortgage is 6.25%, according to the Mortgage Research Center, while the average rate on a 15-year mortgage is 5.25%. On a 30-year jumbo mortgage, the average rate is 6.

But could they drop again as soon as this week? With the first Federal Reserve meeting since July set to occur on September 16 and September 17, and, with it, a presumed rate cut,

Meanwhile, the typical price of a home has fallen in recent months. The median sales price of a home in the U.S. registered at $410,800 over three months ending in June, which marked a decline from a price of $423,100 over the previous three-month period, U.S. Census Bureau data shows.

Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.23%, and for 20-year mortgages, the average is 5.92%. Related: Compare Current Refinance Rates 30-Year Refinance

If you’re looking to buy a home or refinance, mortgage rates are dropping to their lowest levels in nearly a year.

Mortgage rates are finally falling, and just saw their biggest weekly drop in the past year. The average interest rate for a 30-year fixed-rate mortgage in the past week was 6.35%, according to Freddie Mac, down from 6.5% a week earlier.

Mortgage rates have done almost nothing but move lower over the past 4 months. The first Fridays in August and September account for about half of the total drop thanks to weaker results in the jobs report.

Mortgage rates dropped to a new yearly low, reaching 6.25% Monday morning, following disappointing manufacturing data from the New York Fed.

It’s about the “arcane underpinnings” of the mortgage-bond market.

The average rate on a 30-year U.S. mortgage has fallen to its lowest level in nearly a year. Freddie Mac reports the rate eased to 6.35% from 6.5% last week.

Roughly six million households who had been priced out of the market could afford to buy a home if mortgage rates fell to around 6%, one economist said.