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21.08.202516:04:10UTC+00US Mortgage Rates Hold in Late August

As of August 21st, the average rate for a 30-year fixed mortgage backed by Freddie Mac remained unchanged from the previous week, steady at 6.58%, marking the lowest level seen since October. "This week, the 30-year fixed-rate mortgage stayed consistent. Over the summer, rates have decreased, leading to a rise in purchase applications compared to 2024. However, many potential homebuyers are still holding off, anticipating further rate reductions," commented Sam Khater, Freddie Mac’s chief economist.

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