After a slower-than-expected spring and summer sales season, the Bay Area’s housing market is expected to see renewed activity this fall following a dip in mortgage rates to their lowest level in nearly a year.

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Last week, in anticipation of the Federal Reserve’s announcement that it would cut rates for the first time in nine months, the average 30-year fixed mortgage rate dropped to 6.26%, down from a high of 7.04% in January. Agents and loan officers say it could be enough to pull hesitant homebuyers and sellers back into the market, giving this year’s sluggish housing market an end-of-the-year bump.

“Many prospective homebuyers have been holding out in hopes of lower mortgage rates,” California Association of Realtors President Heather Ozur said. “The declining trend

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