Mortgage Rates Continue To Move Down

Jun 13, 2024

Primary Mortgage Market Survey June 13 2024

Staff Writer

The 30-year FRM averaged 6.95% as of June 13, 2024, down from last week when it averaged 6.99%.

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing the 30-year fixed-rate mortgage (FRM) averaged 6.95%.

“Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” said Freddie Mac’s Chief Economist, Sam Khater. “Top-line inflation numbers were flat but shelter inflation - which measures rent and homeownership costs - increased, showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.”

The 30-year FRM averaged 6.95% as of June 13, 2024, down from last week when it averaged 6.99%. A year ago at this time, the 30-year FRM averaged 6.69%.

The 15-year FRM averaged 6.17%, down from last week when it averaged 6.29%. A year ago at this time, the 15-year FRM averaged 6.10%.

Freddie Mac

Mortgage Rates

30-year fixed mortgages

About the author

Sarah Wolak

Staff Writer

Sarah Wolak is a staff writer at NMP.

Link copied

Published

Jun 13, 2024

C-Suite Strategies

BOXABL Looks to Add Mortgage Lending to Its Homebuilding Business

The modular home manufacturer is pursuing a joint venture with OneTrust parent Warp Speed Holdings, targeting a 2027 launch

Modular home manufacturer BOXABL is looking to expand into mortgage lending through a proposed joint venture with Warp Speed Holdings, the parent company of OneTrust Home Loans, potentially opening a new origination channel in the growing factory-built housing market.The com...

Analysis and Data

Existing-Home Sales Hit 16-Year Low, More Declines May Be Ahead

October sales plunged 5.5% as high mortgage rates sidelined buyers, with economists warning the slowdown could extend into November and December closings

The housing market's fall slump is showing up in closed loans, and there may be more pain ahead for mortgage originators.Existing-home sales plunged 5.5% in October to a seasonally adjusted annual rate of 3.75 million, the weakest pace since August 2010, according to figures...

Feb

Palm Springs, CA

More from

Analysis and Data

Existing-Home Sales Hit 16-Year Low, More Declines May Be Ahead

October sales plunged 5.5% as high mortgage rates sidelined buyers, with economists warning the slowdown could extend into November and December closings

Analysis and Data

Nov 13, 2026

Income Calculation Errors Drive Mortgage Quality Concerns

An ACES Quality Management report finds that critical mortgage defects declined in the second quarter, even as income calculation errors, borrower eligibility issues, and appraisal findings increased

Analysis and Data

Nov 12, 2026

Even at 6%, Mortgage Rates May Not Be Enough to Unlock Home Sales

New Realtor.com analysis finds that moving would still increase the typical homeowner's mortgage payment by nearly 62%

Analysis and Data

Nov 11, 2026

Younger Borrowers Want More Personal Guidance Despite Digital Gains

Nearly half say their lender representative should have been more involved, while fewer borrowers overall receive same-day answers, JD Power finds

Analysis and Data

Nov 10, 2026

Mortgage Locks Plunge 19% Despite Rate Relief, ARM Share Hits New High

October's sharp decline in lending activity points to a tougher purchase market, even as borrowers turn to ARMs, FHA, and Non-QM financing