According to Odaily Planet Daily, U.S. mortgage rates remained stable after four consecutive weeks of declines. Freddie Mac said in a statement that the average rate on a 30-year fixed loan was 6.58%, unchanged from last week, when it reached its lowest level since October. Rates have fallen low enough over the past few months to potentially entice some hesitant homebuyers off the sidelines. In some areas with a backlog of listings, sellers are willing to negotiate, offering assistance with closing costs and other concessions. However, affordability remains a significant obstacle, especially for first-time buyers. Separate data showed that existing home sales climbed in July as price increases slowed. However, this doesn't mean the market has become more affordable: some organizations say home prices have soared by more than 50% since the beginning of 2020. "Higher interest rates have eroded the actual purchasing power of the typical American household," said Danielle Hale, chief economist at Realtor.com. "This dynamic has forced many buyers to adjust their expectations, either by looking for a smaller home, moving farther away, or simply postponing their dream of homeownership." (Jinshi Data App)