Mortgage rates fell to their lowest levels since March because job growth has been surprisingly weak this summer.

The Federal Reserve held rates steady in July but two governors dissented, saying they had concerns about labor market fragility.

Neither Presidents Kashkari or Daly—nor Governor Cook—dissented at the July meeting. With Governor Chris Waller and FOMC member Michelle Bowman already lobbying for a cut, the ranks of the dovish are growing by the day.