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Mortgage Rates Continue To Move Down
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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%.