Fixed Mortgage Rates Retreat in the Week Ending June 6th
Mortgage Rates Pull Back
Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending Thursday, June 6th.
The 30-year fixed-rate mortgage averaged 6.99%, down from last week when it averaged 7.03%. A year ago, at this time, the 30-year FRM averaged 6.71%.
The 15-year fixed-mortgage rate averaged 6.29%, down from last week when it averaged 6.36%. A year ago, at this time, the 15-year FRM averaged 6.07%.
Providing additional background and his expert analysis to this week’s survey, Sam Khater, Freddie Mac’s Chief Economist, said:
“Mortgage rates retreated this week given incoming data showing slower growth. Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to buy a home this year, waiting for lower rates may result in small savings, but shopping around for the best rate remains tremendously beneficial.”
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