Mortgage Rates Decline After a Three-Week Ascent
3d image of house with graph falling
“Mortgage rates decreased after a three-week climb,” said Sam Khater, Freddie Mac’s Chief Economist. “While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.71 percent as of June 8, 2023, down from last week when it averaged 6.79 percent. A year ago at this time, the 30-year FRM averaged 5.23 percent.
- The 15-year fixed-rate mortgage averaged 6.07 percent, down from last week when it averaged 6.18 percent. A year ago at this time, the 15-year FRM averaged 4.38 percent.
