Mortgage rates didn't move much in the week ending Aug. 21. That's disappointing for homeowners who wish to refinance their mortgages.

The average rate on a 30-year fixed-rate mortgage rose two basis points to 6.68%, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

Markets deal with conflicting signals

This slight increase is a bummer because it arrested a downhill slide. The 30-year mortgage rate had fallen for the previous two weeks and is noticeably lower than just a few months ago, after lingering at around 7% from April through June.

Since the Trump tariffs were announced in April, financial markets have tried to assess their effects on inflation and employment. It turns out that both economic indicators are getting wor

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