The average rate on a 30-year U.S. mortgage has fallen to its lowest level in four months, welcome news for prospective homebuyers who have been held back by stubbornly high home financing costs

Mortgage rates move in parallel with the 10-year Treasury yield, which fell last week after signs of a weaker economy.

July's surprising jobs report helped drive Treasury yields and corresponding rates lower, opening up a window of opportunity for borrowers to capitalize.