Home prices hit another high, mortgage rates fall slightly: Freddie Mac

Mortgage rates continued their wave-like fluctuations, dropping slightly from last week when rates averaged closer to 7%. A 30-year, fixed-rate mortgage averaged interest rates of 6.89% as of July 11, Freddie Mac reported.Rates currently average lower than they did at this time last year when they hovered around 6.96% for 30-year mortgages."Following June’s jobs report, which showed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage rates followed suit," Fr