The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what we saw a year ago, indicating some latent demand in the market.

 

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