Mortgage rates have decreased this week, reaching an average of 6.75%, the lowest since April.

Bankrate reported this drop, highlighting its connection to recent weak job rating numbers.

The Federal Reserve's potential interest rate cut in September could further influence mortgage rates. While the Fed's borrowing rate doesn't directly set mortgage rates, it plays a significant role in shaping them.

In July, the economy grew by just 73,000 jobs according to the Bureau of Labor Statistics. In May and June of this year, the U.S. added 139,000 and 147,000 jobs respectively.

See Full Page