30-Year Fixed Mortgage Rate Hits Lowest Level in Almost Three Months
The 30-Year Fixed-Rate Mortgage Continues its Downward Trend
Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending Thursday, June 27, 2024. The PMMS reports that the 30-year fixed-rate mortgage averaged 6.86%, down from last week when it averaged 6.87. A year ago, at this time, the 30-year FRM averaged 6.71%.
The 15-year fixed-mortgage rate averaged 6.16%, up from last week when it averaged 6.16%. A year ago, at this time, the 15-year FRM averaged 6.06%.
Providing additional background and his expert analysis to this week’s PMMS, Sam Khater, Freddie Mac’s Chief Economist said, “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months. By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.