The U.S. 30-year mortgage rate is averaging at 7.18%, Freddie Mac said in its latest weekly survey on Thursday.
U.S. mortgage rates fell for the first time in six weeks due to uncertainty over whether the U.S. Federal Reserve will raise interest rates again at its next meeting in September.
It’s down 5 basis points from the previous week — one basis point is equal to one hundredth of a percentage point.The average rate on the 15-year mortgage was unchanged at 6.55% from last week. The 15-year was at 4.98% a year ago. Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging at 7.07% as of Thursday afternoon.
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