Mortgage Rates Shift in August | Business and Finance News

Mortgage rates are shifting fast this Thursday—30-year fixed dropped to 6.58%, 15-year fixed edged up to 6.01%, and the volatile 5/1 ARM plunged 20 basis points to 6.31%. Refinance applications are surging over 62% YoY as rates fell more than half a point since May, sparking buyer urgency. Economists watch closely: when the economy falters, rates drop to spur borrowing; when it’s strong, they rise to cool things down. With ARMs swinging wildly and economic uncertainty looming, now’s the time to compare options—and lock in what fits your finances best. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d0f5179f47797ddf