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All • June 27, 2024

Down Trend Continued This Week

by Rodney Ward

Freddie Mac today (06-27-2024)  released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.86 percent.

“The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market.”

  • The 30-year FRM averaged 6.86 percent as of June 27, 2024, down from last week when it averaged 6.87 percent. A year ago at this time, the 30-year FRM averaged 6.71 percent.
  • The 15-year FRM averaged 6.16 percent, up from last week when it averaged 6.13 percent. A year ago at this time, the 15-year FRM averaged 6.06 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit.

For more information on mortgage rates in your area contact your mortgage lender.

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