The 30-year fixed mortgage rate in the United States has dropped to 6.29%, marking the biggest single-day decline in 11 months.

According to the Wisdom Finance App, the 30-year fixed mortgage rate in the United States fell sharply by 16 basis points to 6.29% on Friday, reaching the lowest level since October 3, 2024, and recording the largest single-day drop since August of last year. According to data from Mortgage News Daily, this decline was mainly influenced by a weaker-than-expected August employment report. Previously, mortgage rates had been hovering in the high 6% range for several months, and this sudden drop provides significant relief for home buyers.