Mortgage Rates Tick Down
MCLEAN, Va., July 11, 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 6.89 percent.
“Following June’s jobs report, which showed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage rates followed suit,” said Sam Khater, Freddie Mac’s Chief Economist. “We’re also seeing more inventory on the market, including a fair number of listings with price cuts, which is an encouraging sign for prospective buyers.”
News Facts
- The 30-year FRM averaged 6.89 percent as of July 11, 2024, down from last week when it averaged 6.95 percent. A year ago at this time, the 30-year FRM averaged 6.96 percent.
- The 15-year FRM averaged 6.17 percent, down from last week when it averaged 6.25 percent. A year ago at this time, the 15-year FRM averaged 6.30 percent.
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