Little Change from Last Week in Mortgage Interest Rates

There’s been little change this week in mortgage interest rates.

 Freddie Mac today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent.

“Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite these lower rates, buyers continue to pause, as reflected in tumbling new and existing home sales data.”

• The 30-year FRM averaged 6.78 percent as of July 25, 2024, up slightly from last week when it averaged 6.77 percent. A year ago at this time, the 30-year FRM averaged 6.81 percent.
• The 15-year FRM averaged 6.07 percent, up from last week when it averaged 6.05 percent. A year ago at this time, the 15-year FRM averaged 6.11 percent.

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