Freddie Mac’s Latest Mortgage Market Update: July 25, 2024
MCLEAN, Va., July 25, 2024 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) has released its most recent Primary Mortgage Market Survey® (PMMS®) results, indicating that the average rate for a 30-year fixed-rate mortgage (FRM) stands at 6.78 percent.
“While mortgage rates have remained largely unchanged from last week, they have dropped nearly half a percent from their highest point earlier this year,” stated Sam Khater, Freddie Mac’s Chief Economist. “Nevertheless, the lower rates have not spurred increased buyer activity, as seen in the declining figures for both new and existing home sales.”
Key Highlights:
- As of July 25, 2024, the 30-year FRM averaged 6.78 percent, a slight increase from last week’s 6.77 percent. This time last year, the 30-year FRM was 6.81 percent.
- The 15-year FRM averaged 6.07 percent, up from 6.05 percent last week. A year ago, the 15-year FRM was 6.11 percent.
For more information, read the original press release from: https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-show-little-movement-2