Mortgage Rates Pull Back

By klrw460 June 6, 2024

Freddie Mac has published the latest figures from its Primary Mortgage Market Survey® (PMMS®), revealing that the average rate for a 30-year fixed-rate mortgage (FRM) is now 6.99%.

According to Freddie Mac’s Chief Economist, Sam Khater, “Mortgage rates have dipped this week due to data indicating slower economic growth. Although the rates are currently just below seven percent, we anticipate a gradual decline throughout the remainder of 2024. Homebuyers might see some savings by waiting for lower rates, but it’s highly advisable to shop around for the best deal available.”

Key Highlights:

  • The 30-year FRM averaged 6.99% as of June 6, 2024, slightly down from last week’s 7.03%. One year ago, the 30-year FRM was at 6.71%.
  • The 15-year FRM averaged 6.29%, down from 6.36% last week. At this time last year, the 15-year FRM was at 6.07%.

For more information, read the original press release from: