SAVANNAH, Ga. (WSAV) — Mortgage rates are at their lowest in ten months.
The average rate on a 30-year U.S. mortgage fell the week of Aug. 11 to 6.58% from 6.63% the previous week. That’s according to mortgage buyer Freddie Mac. However, rates are still above the 6.49% from a year ago.
Elevated mortgage rates have helped keep the U.S. housing market in a sales slump since early 2022. And home sales sank last year to their lowest level in nearly 30 years…