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September 12, 2025

Rate on a 30-year mortgage falls to lowest level in nearly a year

By ALEX VEIGA
AP Business Writer

The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve next week.

The long-term rate eased to 6.35% from 6.5% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.2%.


 
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