Rates dropped today. Here's the window you're looking at.

Today's average 30-year fixed rate is 6.5%. That's down slightly because the rate the government pays to borrow (the 10-year Treasury) dropped about 10 basis points from yesterday. When that number moves, mortgage rates usually follow. It's a small shift, but it matters when you're looking at a monthly payment.

The Fed makes its next interest-rate decision in two days. Markets tend to get jumpy right before those meetings, so rates can bounce around. If you're close to locking, now is a reasonable time. If you're still shopping, the dip gives you a little breathing room to act without waiting for a bigger move that may not come.

Informational only, not a commitment to lend. Rates subject to change. Equal Housing Opportunity. Brett Hickman, NMLS 2010859.