U.S. mortgage costs have eased to their lowest level in 10 months, giving potential buyers more purchasing power, according to real‐estate brokerage Redfin. The firm said the average daily rate fell to 6.57% on Aug. 4, down from a 2025 peak of 7.08% in May. The 0.5-percentage-point drop means that a household with a $3,000 monthly housing budget can now afford a home priced at roughly $458,750, about $20,000 more than it could in May. Monthly payments on a median-priced home are estimated at $2,862, more than $100 below the cost at May’s higher rate. Redfin Chief Economist Daryl Fairweather said the combination of lower borrowing costs and rising inventory gives buyers a "window of opportunity" before the end of summer. She cautioned, however, that mortgage rates remain sensitive to broader economic data and potential Federal Reserve policy shifts.