Fixed-Rate Mortgages Decline Further in the Week Ending June 13th
Mortgage Rates Continue to Move Down
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, June 13th.
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.99%. A year ago at this time, the 30-year rate averaged 6.69%.
The 15-year fixed-rate mortgage averaged 6.17%, down from last week when it averaged 6.29%. A year ago at this time, the 15-year rate averaged 6.10%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth. Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.”
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