Mortgage Rates Fell For The Third Straight Week

Jun 20, 2024

Staff Writer

The 30-year fixed-rate mortgage averaged 6.87%.

Freddie Mac today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) averaged 6.87%.

“Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” said Freddie Mac’s Chief Economist, Sam Khater. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market. Aspiring homeowners should remember it’s important to shop around for the best mortgage rate as they can vary widely between lenders.”

The 30-year FRM averaged 6.87% as of June 20, 2024, down from last week when it averaged 6.95%. A year ago at this time, the 30-year FRM averaged 6.67%.

The 15-year FRM averaged 6.13%, down from last week when it averaged 6.17%. A year ago at this time, the 15-year FRM averaged 6.03%.

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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Jun 20, 2024

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