The average rate on a 30-year fixed mortgage backed by Freddie Mac held steady from the previous week at 6.58% as of August 21st, their lowest level since October. “The 30-year fixed-rate mortgage remained flat this week. Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease,” said Sam Khater, Freddie Mac’s chief economist.