US Mortgage Rates Creep Higher in the Week Ending June 25
Mortgage Rates Average 6.49%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, June 25.
The 30-year fixed-rate mortgage averaged 6.49%, up from 6.47% the previous week. A year ago at this time, the 30-year rate averaged 6.77%.
The 15-year fixed-rate mortgage averaged 5.84%, up from 5.81% last week. A year ago at this time, the 15-year rate averaged 5.89%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The average 30-year fixed mortgage rate was little changed this week at 6.49%. Rates have remained relatively stable over the last six weeks. Meanwhile, purchase activity eased modestly, and refinance activity has continued to pick up recently, reflecting borrowers’ responsiveness to current rate levels.”
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.