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August 2024 Mortgage Update: Rates Trending Downward Amid Economic Shifts and New Housing Initiatives
As of August 2024, residential mortgage rates have shown some fluctuations but are generally trending downward. The average rate for a 30-year fixed mortgage is currently around 6.47%, which is a decrease from recent weeks. This drop is partly due to expectations that inflation is slowing down, which might lead the Federal Reserve to lower…
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