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Since spiking from 4.8% to nearly 5.8% in June, the national average 30-year fixed mortgage rate according to Bankrate.com has stabilized in the 5.25% to 5.35% range. With the Fed Funds Rate at 0%-0.25%, potential home buyers would love to see mortgage rates decline more, while the banks lending the money would love to see spreads increase (bottom chart) so they could make more money.

Bratemort

Mortgagefedfunds

Spreadov

Source: 30-Year Fixed Mortgage Rates Remain Steady While Spreads Tighten