September 5, 2025 The housing market just got a major boost. Mortgage rates experienced their biggest one-day drop in over a year, creating what industry experts are calling a rare opportunity for both home buyers and sellers in today's challenging market.The Numbers That MatterThe benchmark 30-year fixed mortgage now stands at 6.57% after declining 2 basis points since last week, marking a significant improvement from the peaks we saw earlier this year. To put this in perspective, rates have already dropped from 7.04% in January to 6.56% by the end of August, and today's drop continues this encouraging trend.What This Means...