Freddie Mac 30-Year Mortgage Rate Rises to 6.52% as Jobs and CPI Strength Dim Cut Hopes
Updated
Updated · Fox Business · Jun 11
Freddie Mac 30-Year Mortgage Rate Rises to 6.52% as Jobs and CPI Strength Dim Cut Hopes
3 articles · Updated · Fox Business · Jun 11
Summary
The average 30-year fixed mortgage rate climbed to 6.52% this week from 6.48%, while the 15-year rate rose to 5.84% from 5.79%, Freddie Mac said.
172,000 U.S. jobs added in May and unemployment holding at 4.3% reinforced labor-market strength, a backdrop Freddie Mac said helped push existing home sales to a five-month high.
CPI rose 4.2% year over year in May—the highest since April 2023—while core inflation reached 2.9%, adding to pressure on borrowing costs.
Realtor.com said the stronger jobs and inflation data could curb expectations for near-term Fed rate cuts, with some investors now even questioning whether another hike could return to the table.