Mortgage rates dropped this week amid fresh signs of job market weakness

Mortgage rates dropped slightly this week amid new signals that the labor market is weakening and the Federal Reserve will cut interest rates again next month. The average 30-year mortgage rate was 6.23% through Tuesday, according to Freddie Mac data, down from 6.26% a week earlier. The average 15-year mortgage rate was 5.51%, from 5.54%. The 10-year Treasury yield, which mortgage rates closely track, has been falling as odds of a benchmark rate cut in December are on the rise. In recent days, New York F ...