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Long-Term Mortgage Rates Drop To Lowest Level in Three Months

  • June 27th 2024

by UrbanTurf Staff

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Long-term mortgage rates fell for the fourth week in a row on Thursday. 

Freddie Mac reported 6.86% as the average on a 30-year mortgage on Thursday, down one basis point from last week. 

“The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market.”

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.

See other articles related to: interest rates, mortgage rate

This article originally published at https://dc.urbanturf.com/articles/blog/long-term_mortgage_rates_drop_to_lowest_level_in_three_months/22466.

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