A sign is posted in front of a home for sale on Aug.27, 2025 in San Francisco, California.The average rate on the 30-year fixed mortgage dropped 16 basis points to 6.29% Friday, according to Mortgage News Daily, following the release of a weaker-than-expected August employment report.It marks the lowest rate since October 3 and the biggest one-day drop since August 2024. Rates are finally breaking out of the high 6% range, where they've been stuck for months."This was a pretty straightforward reaction to a ...