Freddie Mac Says 30-Year Mortgage Rate Falls 28 Basis Points to 6.49%
Updated
Updated · Norada Real Estate Investments · Jun 28
Freddie Mac Says 30-Year Mortgage Rate Falls 28 Basis Points to 6.49%
3 articles · Updated · Norada Real Estate Investments · Jun 28
Summary
6.49% was the average U.S. 30-year fixed mortgage rate in Freddie Mac’s latest survey, down from 6.77% a year earlier but up 2 basis points from 6.47% last week.
Six weeks of rates hovering near 6.5% reflect persistent inflation concerns and expectations the Federal Reserve will keep borrowing costs higher for longer.
4.4% 10-year Treasury yields have also limited sharper mortgage-rate declines, since home-loan pricing tends to track benchmark government bond yields.
5.84% was the average 15-year fixed rate, down just 5 basis points year over year, while the bigger drop in 30-year loans could offer modest relief to buyers and support refinancing activity.