FX.co ★ US 30-Year Mortgage Rate Marginally Drops

The average rate for a 30-year fixed mortgage supported by Freddie Mac decreased slightly by 1 basis point from the previous week, now at 6.74% as of July 24th. This figure stays just above the low of 6.67% recorded three weeks ago, which was the lowest since April. "This week, the 30-year fixed-rate mortgage essentially remained flat at 6.74%. Overall, the outlook for the housing market is positive. The economy continues to perform well, with strong employment and income growth," commented Sam Khater, the chief economist at Freddie Mac.