Mortgage Rates in U.S. Near 3-Year Low in Late July

According to Freddie Macs latest Primary Mortgage Market Survey, U.S. mortgage rates dropped across the board after rising slightly last week.  Sam Khater, Freddie Macs chief economist, says, Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017. While the improvement has yet to impact home sales, there's a clear firming of purchase demand that should translate into higher home sales in the second half of this year.

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