Mortgage rates tumbled on Friday to their lowest since April 2023 after a weak jobs report sent bond yields sharply lower and boosted Wall Street’s expectations for a rate cut from the Federal Reserve at its September meeting.

The average rate for a 30-year fixed mortgage dropped 0.22 percentage points to 6.4%, according to Mortgage News Daily. That’s the lowest average rate for the most commonly held home loan since April 2023, according to data from Freddie Mac. 

On Friday morning, the Labor Department reported that hiring abruptly slowed in July, with employers adding far fewer jobs than economists had expected, while the unemployment rate jumped to its highest point since late 2021. The significant miss sent stocks tumbling as well as yields on the 10-year U.S. Treasury, which mortgage rates closely follow. 

The sharp decline in mortgage rates could offer some relief to house hunters, as many have been priced out of the market given the double whammy of high borrowing costs and home prices that reached a record in June. Mortgage rates could fall even lower in the coming weeks, said NAR Chief Economist Lawrence Yun in an emailed statement. 

Yun pointed to a 1-percentage-point decline in the 10-year bond yield, which dropped to 3.8% on Friday from 4.8% a few months ago. If mortgage rates fell by the same amount, borrowers would need $300 less for the monthly payment on a typical home loan, he said. 

“Homebuyers who were priced out a few months ago should re-check whether they can enter the homebuying market if they have secure jobs,” he added. 

Meanwhile, economists are now suggesting the Federal Reserve may need to cut rates more deeply than had been expected given the slowing labor market. Some Wall Street economists on Friday predicted the Fed could cut its benchmark rate by 0.5 percentage points at its September meeting, compared with prior forecasts for a 0.25 percentage point cut. 

On Wednesday, the Fed held its benchmark interest rate steady, as expected, but Chair Jerome Powell signaled the central bank could begin cutting borrowing costs in September so long as inflation continues to abate. But he also flagged that Fed officials are closely watching the labor market for signs of weakness, which he said could indicate the need for cuts. 

Given the weaker-than-expected jobs numbers on Friday, Wall Street analysts are now predicting several additional rate cuts throughout 2024, as well as potentially deeper reductions than earlier forecast.

“We now expect 25 bp cuts at each of the remaining three meetings this year and will be watching for signs that a larger 50 bp move could be on the cards, although that would be dependent on the economy and labour market weakening at a faster pace than we forecast,” Capital Economics said in a Friday report.

It’s nearly time to head back to the classroom. Are you equipped with the best tech to do it with? If you’re not ready with everything you need to conquer the upcoming school year, you won’t want to miss the latest deals on tablets that are available as we speak. Right now, you can snag some crazy good back-to-school deals on Apple iPad, Amazon Fire tablets and Samsung Galaxy tablets. And because we know time is precious, we’ve curated all of our favorite picks for you to make your shopping needs a little easier. 

Tablets are a great portable option for students. They can use them to read, access textbooks, take notes and even complete assignments (when paired with a Bluetooth keyboard). However, the best tablets of 2024 can get a bit pricey for parents and students. That’s why we’ve rounded up the best back-to-school tablet deals to help you find the right device for the best price.

Best back-to-school deals on Apple iPads

Apple iPad (10th generation): $299

What better way to kick off the school year than with a new iPad to handle all your most important tasks, educational or otherwise? 

The latest edition in Apple’s classic iPad lineup is the iPad 10th generation. This 10.9-inch tablet features a Liquid Retina display with Apple’s True Tone technology, and it looks absolutely fantastic. 

 It has Apple’s A14 Bionic chip, an upgrade from the iPad 9’s A13 chip. The iPad 10 is compatible with Wi-Fi 6 and 5G internet for fast performance. It also offers all-day battery life, so that you can easily take it to school without having to worry about plugging it in mid-day.

The new iPad 10 comes in four vibrant colors: yellow, pink, blue and silver. You can also choose between 5G cellular and WiFi-only models. 

Apple iPad (9th generation): $249

The 10.2-inch iPad 9, released in 2021, is the most affordable of Apple’s iPad offerings. It offers a 8-megapixel wide-angle back camera and a 12-megapixel ultra-wide-angle front camera. It boasts stereo speakers, too. 

But don’t count it out just because it’s older. It still makes an excellent mobile laptop-like work experience in a pinch. If you need to get homework done on the go, it’s got you covered. 

This iPad is powered by a A13 Bionic chip. It boasts up to 10 hours of battery life, and is compatible with the Apple Pencil ($99) for drawing or note-taking.

But just because it’s affordable doesn’t mean it isn’t still mighty. It’ll stand up through sitting in online classes, taking notes, and even putting together presentations on the go should you need to do so. And its classic form factor is well worth shelling out for. 

It’s available in two colors; prices vary.    

Apple iPad 9 (256GB) (silver), $279 (reduced from $479)

Want to protect your new tablet investment? Get the 64 GB Apple iPad 9 bundled with a two-year subscription to Apple’s protection plan, Apple Care+. That bundle’s on sale on Amazon, too.

Apple iPad 9 (64 GB) (silver) bundled with Apple Care+, $318 (reduced from $398) 

Apple iPad Air (5th generation): $540

There’s nothing thinner or more portable among Apple’s full-sized tablets than the iPad Air. It’s the perfect choice for toting everywhere, and some models even support the Apple Pencil, so you can draw and sketch to your heart’s desire.  

Introduced in 2022, the 10.9-inch Apple iPad Air 5 is the latest in the lightweight iPad Air line. The iPad Air 5 offers performance up to 60% faster than the prior model, thanks to Apple’s turbo-charged M1 chip. The device boasts a 12-megapixel wide-angle back camera that supports 4K video. It also offers touch ID, and Apple’s Liquid Retina display.

It additionally features a 10.2-inch Retina display, includes 64GB of internal storage and offers up to a 10-hour battery life.

This edition of the iPad Air also runs the latest version of iPadOS and comes with the same collection of preinstalled apps as the most current iPads. It runs using Apple’s M1 processor. It’s just 0.29 inches thick and weighs 1.07 pounds.

It’s available in five colors.  

The 256 GB iPad Air (5th generation) is also available in five colors; prices vary. 

Apple iPad Air 5 (256 GB), $594 (reduced from $749)

Apple iPad Mini (6th generation): $469

You or your student are carrying around enough with textbooks and other heavy materials as it is. Lighten your load with the iPad Mini, which barely takes up much space at all in a backpack or messenger bag. 

The iPad Mini 6 is a compact tablet with an 8.3-inch Liquid Retina display screen. Released in 2021, the Apple tablet is powered by an A15 Bionic chip. It features a 12-megapixel wide-angle back camera, and a 12-megapixel ultra-wide-angle front camera. It boasts landscape stereo speakers and is available in four colors. 

Note that the Apple iPad Mini is not compatible with Apple’s external Magic Keyboard. It can, however, be used with other Bluetooth-enabled external keyboards.

Best back-to-school deals on Samsung tablets

2024 Samsung Galaxy Tab A9+ 11″ Android tablet: $230 (15% off)

Not an Apple user? Samsung has a variety of Android tablets for you to pick up just in time for the first school bell to ring this year. 

it’s easy to find powerful and versatile tablets that run this popular operating system for a fraction of what you’d pay for a mid- to high-end Apple iPad. This 2024 Samsung Talaxy Tab A9+ is the perfect example. 

The tablet offers an 11-inch display with a 90Hz refresh rate, 128GB of internal storage and a quad speaker system. It’s able to handle multitasking with ease. It comes in a graphite or silver casing color. One of the things we love about the Samsung tablets is that most have a microSD memory card slot built in, so you can expand the storage capacity easily and whenever you choose.

This model offers a 7,040 mAh rechargeable battery, so it provides all-day battery life, as well as a quick charge feature. It runs using the Qualcomm Snapdragon 695 processor and measures 10.12 by 6.64 by 0.27 inches.

Samsung Galaxy Tab S9: $762

The Samsung Galaxy Tab S9, powered by the new Snapdragon 8 Gen 2 processor, features an 11-inch AMOLED screen, 8 gigabytes of RAM (upgradable to 12 gigabytes) and 128 gigabytes of storage (a free upgrade to 256 gigabytes is currently available). 

We like that this Android tablet is very well protected: It’s designed with an Armor Aluminum frame and rated IP68 for dust- and water-resistance. That means it’s no sweat if you drop it on the way to school or it gets jostled in your bag. It’ll still be good to go to get you through another assignment. 

An S Pen is included as well, so you can take notes, scribble and doodle, or sketch out ideas for projects without resorting to scratch paper.

Samsung Galaxy Tab A8: $185

The Galaxy Tab A8 offers a 10.5-inch LCD display, 32 gigabytes of storage and fast-charging capabilities. 

Though it’s under $200, it’s no slouch when it comes to productivity. You can still enjoy all the same things you would with one of Samsung’s newer tablets with this model. It won’t be able to multitask as well, but it’s more than useful for online classes, word processing, putting together projects and even unwinding after a long day of school. 

Check out your favorite shows and movies in your downtime for less with this model that won’t break the bank for the 2024 school year. 

Samsung Galaxy Tab S8 (128 GB): $560

The Samsung Galaxy Tab S8 is a portable 2-in-1 device with PC and tablet functionality. It’s a great form factor for handling all your school needs and then some. Plus, it has a gorgeous 11-inch screen that everything looks crisp and bright on, even if you’re only using it to unwind after class with some chill Netflix viewing. 

It features Microsoft 365 integration for a better PC experience.  That means if you use a Microsoft computer or laptop for school and need integration with your tablet for working on the go, you can log in to the same apps with Microsoft 365, so none of your documents are floating in the ether.

Like many of Samsung’s other tablets, it comes equipped with an S Pen for a versatile control experience as well. 

Samsung Galaxy Tab S7 FE: $400

The Samsung Tab S7 FE features a large 12.4-inch screen, dual speakers, a lightning-fast processor for streaming and ‎64 gigs of storage. (A 256 GB version is also available.) You can even link this tablet with your Samsung Galaxy phone and make phone calls from the tablet.

If multitasking is the name of the game between your phone and your tablet, this model is a fantastic pick. It’s also still up to par in terms of performance, as it’s still capable of handling multiple programs and apps at once, though it might falter with some newer games when you’re really looking to veg out and get school off your mind. 

It also comes with an S Pen so you can control it with your fingers or use the pen as a stylus for more precise tasks and sketching. 

Best Amazon Fire tablets for back-to-school

Amazon Fire HD 8: $100

Not sure you need to use your tablet too much for schoolwork? More interested in entertainment and keeping up with shows, books and social media? Amazon Fire tablets make affordable options to do all of that and more. Just keep in mind that you’ll only be able to access certain apps. 

The Fire HD 8 tablet (2022) offers 30% faster performance over the prior model, the Amazon Fire 7. The tablet features a lightweight yet durable design with an 8-inch HD screen. It also provides enhanced battery life with 13 hours of watch time on a single charge.  

The Amazon Fire HD 8 is available in black, denim and rose colors. 

Amazon Fire HD 8 (ad-free, 32 GB), $115

Amazon Fire HD 8 Plus: $120

The Amazon Fire HD 8 Plus offers includes fast charging and wireless charging capabilities. It comes with an improved 5MP rear-facing camera for clearer pictures. The Plus model includes 3GB of RAM for better multi-tasking. 

Amazon also claims the Fire HD8 Plus is twice as durable as Apple iPad mini (2021), as measured in tumble tests. 

The Amazon Fire HD 8 Plus comes in a dimpled gray finish with two storage options: 32 or 64 gigs. 

Lenovo Tab M10 Plus (3rd Gen) 10″ Android tablet: $140 

Featuring a 10.6-inch Full HD (2K resolution) touchscreen display and 32 gigs of internal storage, this low-cost, entry-level tablet is a great option for first-time Android tablet users or anyone who doesn’t need a lot of enhanced processing power of fancy features. 

This tablet comes with Android 12 preinstalled and is on sale right now on Amazon for just $140 — that’s 26% off. In addition to being a great deal for the price, we love that this tablet is only 0.29 inches thick and weighs 1.03 pounds.

With this tablet, you can expect up to a 12-hour battery life. And when you stream video content from services like Netflix or Disney+, you can watch it at 1080-pixel resolution.