US Mortgage Rates Tick Lower in the Week Ending July 24
Original Source:
The 30-Year Fixed-Rate Mortgage Shows Little Movement
The 30-Year Fixed-Rate Mortgage Shows Little Movement
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, July 24.
The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.75%. A year ago at this time, the 30-year rate averaged 6.78%.
The 15-year fixed-rate mortgage averaged 5.87%, down from last week when it averaged 5.92%. A year ago at this time, the 15-year rate averaged 6.07%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week, the 30-year fixed-rate mortgage essentially remained flat at 6.74%. Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth.”
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