Fixed Mortgage Rates Inch Lower in the Week Ending June 8th
Original Source:
Mortgage Rates Decline After a Three-Week Ascent
Mortgage Rates Decline After a Three-Week Ascent
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending June 8th. The 30-year fixed-rate mortgage averaged 6.71%, down from last week when it averaged 6.79%. A year ago at this time, the 30-year rate averaged 5.23%.
The 15-year fixed-rate mortgage averaged 6.07%, down from last week when it averaged 6.18%. A year ago at this time, the 15-year rate averaged 4.38%.
Adding additional background and his analysis to the report, Sam Khater, Freddie Mac’s Chief Economist, said:
“Mortgage rates decreased after a three-week climb. While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers.”
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