Mortgage payments just got cheaper for home buyers

The monthly payments new buyers will have to pay for their home loans has dropped to its lowest in more than a year, real estate platform Redfin pointed out, as mortgage rates have declined in recent weeks. Mortgage rates have dropped to about 6.5 percent after spending weeks hovering around 7 percent. That drop has helped lower the amount that prospective homeowner will have to pay in mortgage payments. Redfin pointed out for the week ending August 11, potential homeowners will typically pay about $2,600 which is close to $250...