Mortgage rates fall sharply on expectations of a Fed rate cut. Will they keep on dropping from here?

Core Insights - Mortgage rates experienced a significant decline on Tuesday, resulting in the 30-year mortgage rate reaching its lowest level in a month [1] Group 1 - The drop in mortgage rates is expected to influence the housing market positively, potentially increasing homebuyer activity [1] - The current mortgage rate environment may lead to a shift in consumer behavior, as lower rates typically encourage refinancing and new home purchases [1]