Skip to main content

Mortgage Rates Decline Once Again As Inflation Concerns Grow

Jun 17, 2021
The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3, 2020 has found that mortgage applications decreased 17.9 percent from one week earlier
Director of Events

Mortgage rates are down once again in hopes to help quell concerns over inflation and the increase in home prices.

KEY TAKEAWAYS
  • The 30-year fixed-rate mortgage averaged 2.93% for the week ending June 17, 2021.
  • The 15-year fixed-rate mortgage averaged 2.24% for the week ending June 17, 2021.
  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.52%.

Freddie Mac's Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 2.93% for the week ending June 17, 2021. Despite minimal increases in inventory, high home prices are keeping buyers at bay.

“Mortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s Chief Economist. “While mortgage rates are low, purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices. With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.”

The 15-year fixed-rate mortgage averaged 2.24% for the week ending June 17, 2021. According to the PMMS, this is down substantially from last year when the 15-year fixed-rate mortgage averaged 2.58%.

Freddie Mac Primary Mortgage Market Survey
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jun 17, 2021
Home Ownership Expenses Cast A Shadow Over Affordability

Of more than 500 counties analyzed by ATTOM, 97.8% are less affordable in the first quarter of 2024 than their historic averages.

Mar 27, 2024
MBA: Mortgage Applications Subside

Applications decreased 0.7% from one week earlier.

Mar 27, 2024
Slight Uptick In Mortgage Rates Hold New Home Sales Steady In February

The pace of new home sales in February is up 5.9% from a year earlier.

Mar 26, 2024
Mortgage Delinquencies Drop, Foreclosure Rates Improve In February

A total of 6,000 foreclosure sales were completed in February, a 9% decrease from January and the second-lowest level in the previous 12 months.

Mar 26, 2024
Annual Home Price Growth Jumps In January

S&P CoreLogic Case-Schiller and FHFA home price indices both note slight decline from December, though.

Mar 26, 2024