Mortgage rates dip below 6 percent, but housing supply still squeezes Tennessee buyers

CHATTANOOGA, Tenn — Mortgage rates are finally moving.

The average rate on a 30-year mortgage has fallen below 6 percent for the first time since 2022.

But in Southeast Tennessee, lower rates may not be enough.

In Chattanooga and Hamilton County, Zillow listings this month show just over 2,000 homes for sale. Homes and townhomes for rent — excluding traditional apartment complexes — total about 500…

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