The average rate on a 30-year fixed mortgage backed by Freddie Mac fell by a meager 2 bps from the previous week to 6.72% as of July 31st, holding above its lowest since April of 6.67% seen four weeks ago. “The 30-year fixed-rate mortgage showed little movement, remaining within the same narrow range for the fourth consecutive week. Continued economic growth, along with moderating house prices and rising inventory, bodes well for buyers and sellers alike,” said Sam Khater, Freddie Mac’s chief economist.