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6.47%: Mortgage Rates Drop This Week

  • June 18th

by UrbanTurf Staff

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Mortgage rate chart_06-18-26.png

Long-term mortgage rates fell a bit this week. 

Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.47%, down 5 basis points from 6.52% last week. A year ago at this time, the 30-year rate averaged 6.81%.

“Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve," Freddie Mac chief economist Sam Khater stated. 

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

This article originally published at https://dc.urbanturf.com/articles/blog/647_mortgage_rates_drop_this_week/24745.

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