In a recent update on August 29, 2024, the average rate for a 30-year fixed mortgage recorded a decline to 6.35% from the previous week's rate of 6.46%, as reported by Freddie Mac. This shift indicates a notable decrease in mortgage rates within a short span of time. The insight was shared by Jessica Lautz, an expert in Mortgages & Home Financing, shedding light on the current trends in the housing market for potential homebuyers or individuals interested in mortgage-related decisions.