Freddie Mac says the average 30-year fixed mortgage rate edged up to 6.66% from 6.65% the prior week, versus 6.56% a year ago, further squeezing housing affordability. Rates briefly fell below 6% before the late‑February Middle East shock but have held above 6.5% since July with little sign of easing. Pantheon Macroeconomics senior North America economist Thomas Ryan said high rates are keeping the market stuck and that a fall to around 5% could materially release suppressed demand, though what

Freddie Mac says the average 30-year fixed mortgage rate edged up to 6.66% from 6.65% the prior week, versus 6.56% a year ago, further squeezing housing affordability. Rates briefly fell below 6% before the late‑February Middle East shock but have held above 6.5% since July with little sign of easing. Pantheon Macroeconomics senior North America economist Thomas Ryan said high rates are keeping the market stuck and that a fall to around 5% could materially release suppressed demand, though what would push rates that low is unclear. July new‑home sales fell to a six‑month low after single‑family contract signings dropped 10.5% to a 607k annualized pace, below the 620k consensus.