The average rate on 30-year fixed home loans registered 6.63% for the week ending Aug. 7, down from 6.72% last week.

A new survey of homebuyers shows that younger buyers are making risky financial bets based on their ability to refinance in the future.

MCLEAN, Va. (AP) — The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly 10 months, giving prospective homebuyers a sorely needed boost in purchasing power that could help inject life into a stagnant housing market.