Mortgage rates sit at their lowest point in over a year, with modest improvement possible if economic data continues to cool. Andrii Yalanskyi/500px

Mortgage interest rates have given homebuyers and homeowners some breathing room in recent weeks. After climbing to painful highs earlier this year, borrowing costs have started to ease as the Federal Reserve adjusts its approach and economic conditions shift. For many Americans who've been priced out or waiting on the sidelines, this could represent a meaningful opportunity. In recent weeks, mortgage rates have hovered near three-year lows , opening up new, more affordable opportunities.

But the path forward remains uncertain. Inflation pressures persist, economic data sends mixed signals and policy decisions continue to influe

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