Chris Meldrom - Realtor

Mortgage rates this week for a 30-year fixed loan decreased to 6.18%, down from 6.21% last week, as markets continue to react to the Federal Reserve's decision to lower its benchmark interest rate for the third consecutive time this year.

So how does this affect your monthly mortgage payment? And what does it mean for homebuyers?

Here’s the monthly cost of purchasing a typical home today.

Fannie Mae and Freddie Mac have sharply increased their mortgage-backed securities holdings, a move that could help push mortgage rates lower.

Since May, the two have added more than $55 billion in mortgage balances, up over 30%, bringing combined holdings to $234 billion, the highest level in four years. Analysts told Bloomberg the total could grow by another $100 billion next year.

Officials have offered no explanation, fueling speculation the buildup could be tied to a potential public stock offering or an effort to help lower mortgage rates.

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