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Long-Term Mortgage Rates Tick Down Again

  • June 22nd 2023

by UrbanTurf Staff

Mortgage Rate Chart_06-22-23.png

Long-term interest rates dropped again this week. 

Freddie Mac reported 6.67% as the average on a 30-year mortgage on Thursday, down two basis points compared to last week. 

“Potential homebuyers have been watching rates closely and are waiting to come off the sidelines. However, inventory challenges persist as the number of existing homes for sale remains very low," Sam Khater, Freddie Mac’s Chief Economist, said in a release. "Though, a recent rebound in single-family housing starts is an encouraging development that will hopefully extend through the summer." 

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/long-term_mortgage_rates_tick_down_again/21169.

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