Fixed-rate mortgage rates have fluctuated since 2023, affecting homebuyers and prospective homebuyers.

Freddie Mac’s average 30-year fixed mortgage rate has remained at 6.78% since July 20.

Housing demand and economic outlook also impact mortgage rates.

Despite some price declines, buying a house remains difficult.

Borrowers would pay $2,277 per month for a $350,000 loan at 6.78%, compared to a year ago when rates were 124 basis points lower.