Mortgage Rates Show Little Movement
MCLEAN, Va., July 25, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) 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.”
News Facts
- 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. For more information, view our Frequently Asked Questions.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT:
Angela Waugaman
(703) 714-0644
Angela_Waugaman@FreddieMac.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ebcb744-d471-4034-9fd3-44e15355c71f
Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of 07/25/2024
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