Mortgage rates dip slightly as 30-year average falls to 6.67%
Freddie Mac reported that the average 30-year fixed mortgage rate decreased to 6.67%, the first decline in six weeks.
The latest Primary Mortgage Market Survey from Freddie Mac showed the benchmark 30-year fixed rate slipping from 6.69% to 6.67%, while the 15-year fixed rate fell to 5.96% from 6.01%. Sam Khater noted that housing affordability has improved compared with a year ago and that modest rate changes are already influencing borrower behavior. The data suggest a modest rebound in purchase and refinance applications.
Why it matters
Lower mortgage rates can make home buying more affordable and stimulate the housing market.
In this story
mortgage rates30-year fixed15-year fixedhousing affordabilityFreddie Macprimary mortgage market surveySam Khater
