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As of August 26, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.125%, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.500%, which is also unchanged from yesterday. *Data used to calculate the median mortgage interest rates is based on rates from

You have been granted access, use your keyboard to continue reading. Tap the Play button at the top of any article to hear it read aloud. Frustrated by high interest rates, Christina Branche, right, suspended her home search, until she got a text from her broker Sean Adu-Gyamfi, left.Credit...Jackie Molloy for The New York Times Homeowners are afraid to leave behind great deals they locked in

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The Fed has spoken. Chairman Jay Powell clearly declared victory over inflation at his annual Jackson Hole, Wyoming, press conference. The next direction for interest rates is down. The Fed appears to have done the impossible: reduced inflationary expectations without causing a steep recession and loss of jobs. While inflation is not yet down to the Fed’s goal of 2%, it’s pretty obvious that