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Mortgage Rates Drop For Second Week In A Row

  • June 13th 2024

by UrbanTurf Staff

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Long-term mortgage rates dropped for the second week in a row on Thursday. 

Freddie Mac reported 6.95% as the average on a 30-year mortgage on Thursday, down 4 basis points from last week. 

“Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.”

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_drop_for_second_week_in_a_row/22428.

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