Mortgage Rates in the US Fall for a Fourth Week, Hitting 6.77%

Mortgage rates in the US fell for a fourth straight week.

The average for 30-year, fixed loans was 6.77%, the lowest since early May and down from 6.81% last week, Freddie Mac said in a statement.

The stretch of declines offers a bit of relief to house hunters looking to take advantage of a wider selection of listings across much of the country. But while buyers have gotten more choices and greater negotiating power, affordability remains a hurdle. At the same time, anxiety over the economy may weigh on consumers’ financial decisions.

As the housing market tilts more in ...