The average rate on a 30-year fixed mortgage backed by Freddie Mac fell by a marginal 1 bps from the previous week to 6.74% as of July 24th, holding above its lowest since April of 6.67% seen three weeks ago. “This week, the 30-year fixed-rate mortgage essentially remained flat at 6.74%. Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth,” said Sam Khater, Freddie Mac’s chief economist.