The average rate on a 30-year U.S. mortgage fell for the fifth straight week to its lowest level since early April, an encouraging sign for home shoppers facing rising home prices

Most economists predict the Fed will start lowering rates in September. If President Trump eases some of his aggressive tariff measures or if the labor market continues to deteriorate, the Fed might cut interest rates earlier,

The average rate on a 30-year U.S. mortgage fell to its lowest level since early May, an encouraging trend for prospective homebuyers at a time when the U.S. housing market remains largely held back by elevated borrowing costs and rising prices.

So what impact does this have on your monthly mortgage payment? And what does this mean for homebuyers? Here’s the monthly cost of purchasing a typical home today, according to the Realtor.com® mortgage calculator.

Mortgage interest rates are consistently declining again. Here are three things homebuyers should do in response.