FX.co ★ US 30-Year Mortgage Rate Eases to the Lowest Since October

As of August 14th, Freddie Mac reported a decrease in the average rate for a 30-year fixed mortgage, dropping by 5 basis points from the prior week to 6.58%. This marks the lowest rate observed since October. Sam Khater, Freddie Mac's chief economist, noted that the reduction in mortgage rates is stimulating an increase in purchase application activity as borrowers capitalize on the favorable conditions.