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Mortgage Rates Remain At 15-Month Low

  • August 15th 2024

by UrbanTurf Staff

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Mortgage rate chart_08-15-24.png

On Thursday, Freddie Mac reported 6.49% as the average on a 30-year mortgage, up two basis points from last week, but rates are still at their lowest level in over a year. 

“In 2023, the 30-year fixed-rate mortgage nearly hit 8 percent, slamming the brakes on the housing market," said Sam Khater, Freddie Mac’s Chief Economist. "Now, the 30-year fixed-rate hovers around 6.5 percent and will likely trend down in the coming months as inflation continues to slow.”

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_remain_at_15-month_low/22609.

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