Mortgage rates continued to sink away from the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.86% as of June 27, down from last week when it averaged 6.87%. A year ago at this time, it averaged 6.71%.
The 15-year fixed-rate mortgage averaged 6.16%, up from last week when it averaged 6.13%.A year ago at this time, it averaged 6.06%.
“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.”
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