Mortgage rates dipped to their lowest level since February of last year, the 30-year fixed-rate falling to 6 point 29 percent, thanks to cooling inflation.
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00:00Mortgage rates dipping to their lowest level since February of last year, the 30-year fixed rate falling to 6.29 percent
00:07Thanks to cooling inflation and a slowing job market. Despite the drop mortgage demand remains sluggish with applications up
00:14Just 1.4 percent for the week home purchase applications rising 2 percent
00:19But are still 3 percent lower than a year ago while refinancing saw a modest 1 percent increase
00:26Affordability challenges and limited inventory continue to weigh on the housing market