FX.co ★ US 30-Year Mortgage Rate Eases for 2nd Consecutive Week

As of July 31st, the average rate for a 30-year fixed mortgage backed by Freddie Mac slightly decreased by 2 basis points from the prior week, bringing it to 6.72%. This rate remains above the lowest point of 6.67% since April, which was observed four weeks ago. "The 30-year fixed-rate mortgage experienced minimal change, staying within a tight range for the fourth straight week. Ongoing economic growth, coupled with the stabilization of housing prices and an increase in available inventory, is positive news for both buyers and sellers," remarked Sam Khater, Freddie Mac's chief economist.