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Mortgage Rates Barely Budge

  • July 25th 2024

by UrbanTurf Staff

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Long-term mortgage rates remained flat this week.

On Thursday, Freddie Mac reported 6.78% as the average on a 30-year mortgage, up just one basis point from last week. 

“Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite these lower rates, buyers continue to pause, as reflected in tumbling new and existing home sales data.”

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 rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_barely_budge/22556.

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