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Mortgage Rates Have Remained In The Same Place For Months

  • July 24th

by UrbanTurf Staff

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Mortgage rate chart_07-24-25.png

Long-term mortgage rates fell slightly this week, but remained in the same window that they have been in for months.

Freddie Mac reported 6.74% as the average on a 30-year mortgage, down one basis point from the previous week. 

“Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth,” Sam Khater, Freddie Mac’s Chief Economist, said.

Long-term mortgage rates have moved incrementally up and down since April, but have remained in the same 20 point basis window of 6.6% to 6.8%. Yesterday, Lawrence Yun of the National Association of Realtors predicted that if rates dropped to 6%, it would open up homeownership for 140,000 renters. 

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_have_remained_in_the_same_place_for_months/23719.

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