As of mid-September 2025, the average 30-year fixed mortgage rate has fallen to about 6.26%, down from ~6.35% just a week earlier. These are the lowest rates seen since October 2023. In its most recent September, the Federal Reserve cut its benchmark federal funds rate by 25 basis points (0.25%), bringing it into the range of 4.00% to 4.25%. This was the Fed’s first rate cut since December 2024.
The Fed also signaled the possibility of two more standard cuts later in the year. However, in his press conference following the rate cut announcement, Fed Chair Powell's comments triggered negative reaction in the bond market. His comments surrounding this being a "risk management cut" implied future cuts in 2025 are by no means guaranteed.
In related news, Fed member Lisa Cook is at the center of a high-profile legal and political dispute over whether she can legally be removed from office. So far, judicial decisions have favored her remaining in office while courts adjudicate the removal attempt, maintaining the Fed’s structure. Recently released documents surrounding her loan application for the mortgage she secured to purchase her Georgia home seem to indicate she, in fact, did declare the property as a second home, contradicting the accusations of mortgage fraud that she falsified loan documents to buy the property as a primary residence as a means of securing more favorable loan terms. Further, property tax records indicate she never claimed a homestead exemption on the property. While the issue will continue being a topic of discussion in the news and court system, this is the first concrete evidence released regarding the accusation and, at least for now, indicates no cause for firing her from her position.
To get in touch, reach out to your Helen Adams Realty agent or contact Tom Baker directly.
About IntroLend Carolinas
IntroLend Carolinas is a mortgage marketplace that allows you to compare your options side-by-side, giving you the confidence to know you are receiving the best possible rate and terms. Helen Adams Realty has dedicated finance managers in their offices who have been in the mortgage and customer service industries for decades and understand how to take great care of any borrower in any scenario.