“Rates on 30-year new purchase mortgages fell for the third consecutive day on Friday, dropping to 6.70%, the lowest since early spring. This is a significant improvement from rates above 7% at the start of July. Rates for most other mortgage types also ended the week lower. It's crucial to shop around and compare rates across lenders regularly for the best mortgage option. The 30-year mortgage rate average fell 38 basis points from July 1 to 6.70%, the cheapest since March 29. Despite being higher than February's 6.36%, it's far below October's 23-year high of 8.01%. The 15-year mortgage rate average dropped to 5.87%, its lowest since mid-June, and well below last fall's 7.08% peak. Jumbo 30-year rates remained flat at 6.96%, the lowest since June 13. Freddie Mac's weekly average dropped to 6.89%, reflecting five weeks of decline. Refinancing rates were mixed, with the 30-year refi average increasing, while the 15-year refi average fell.”