Reported 3 days ago
Mortgage rates have held steady this week at the lowest levels since late 2024, with the average 30-year rate at 6.58% and the average 15-year rate slightly decreasing to 5.69%. Despite these low rates, mortgage applications have not increased significantly, with refinancing activity dropping 3% and home purchase applications remaining flat. However, existing home sales saw a 2% rise in July compared to the previous month, indicating some response to a softening housing market, although prices remain near historical lows.
Source: YAHOO