Mortgage rates may be at the lowest rate in three years, but affordability dropped in the second quarter and remains a major concern for the housing market.
Long-term mortgage rates remained steady for the period ending Aug. 15, as consumers continue to enjoy the lowest rates in three years.
30-year: 3.60%, no change from a week ago
15-year: 3.07% vs. 3.22% a week ago
Source: Freddie Mac
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