The average rate on a 30-year fixed-rate mortgage decreased slightly to 6.64% this week, according to Freddie Mac. This marks the second consecutive week of declines, down from 6.65% last week. This stability is reassuring, and borrowers have responded with rising purchase application demand.
Freddie Mac’s Chief Economist noted that the 30-year fixed-rate has settled in over the last month, making only slight moves in either direction. This consistent trend can help sustain momentum in the housing market.
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