Skip to main content

Mortgage Rates Tick Down As Affordability Declines

Director of Events
Jul 01, 2021

Freddie Mac's Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 2.98% for the week ending July 1, 2021.

Freddie Mac's Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 2.98% for the week ending July 1, 2021.

“Economic growth remains steady and is bolstering more segments of the economy,” said Sam Khater, Freddie Mac’s chief economist. “Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.”

Affordability has been a major issue for the nation, even in states like Florida which is usually one of the more affordable markets. A recent report revealed that homebuyers in Florida are actually postponing their plans to purchase a home due to the increase in home prices.

The PMMS reported that the 15-year fixed-rate mortgage averaged 2.26%, down from last week's average of 2.34%. A year ago, the 15-year averaged 2.56%. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.54%, up slightly from last week's average of 2.53%. 

Freddie Mac Primary Mortgage Market Survey 07/01/2021.
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jul 01, 2021
Foreign Interest In U.S. Soil Is Up (But Still Low)

Foreign buyers purchased $56B in U.S. homes last year — a 33% increase — though overall activity remains near historic lows

Jul 17, 2025
Black Potential Homebuyers Denied Nearly Twice As Often

Though homeownership rates among Black Americans have improved, they still lag behind other racial groups

Jul 16, 2025
Mortgage Applications Sink 10% As Rates Climb

Purchase and refinance activity stall; VA refinances reverse prior week’s gain

Jul 16, 2025
Fee Cures Quietly Costing Mortgage Lenders Thousands Per Loan

Complexity is rising — and so are the costs of getting fees wrong

Jul 15, 2025
Cost Challenges Hit Young And Old

First American economist finds growing pressure at opposite ends of the age spectrum

Jul 15, 2025
U.S. Housing Shortage Hits Record High: Analysis

Borrower demand remains strong, but is stifled by inventory and affordability barriers

Jul 14, 2025