Mortgage Rates Barely Budge

Jul 25, 2024

Staff Writer

Freddie Mac reported mortgage rates essentially remained flat from last week's numbers.

Freddie Mac today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) averaged 6.78%. Last week's 30-year FRM averaged 6.77%.

“Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, Freddie Mac’s chief economist. “Despite these lower rates, buyers continue to pause, as reflected in tumbling new and existing home sales data.”

This week's numbers are slightly below last year's when the 30-year FRM averaged 6.81%.

The 15-year FRM averaged 6.07%, up marginally from last week when it averaged 6.05%. A year ago at this time, the 15-year FRM averaged 6.11%.

Freddie Mac

mortgage rates

30-year fixed mortgages

About the author

Sarah Wolak

Staff Writer

Sarah Wolak is a staff writer at NMP.

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Published

Jul 25, 2024

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