Mortgage rates retreated in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.47% as of June 18, down from last week when it averaged 6.52%. A year ago at this time, it averaged 6.81%.
The 15-year fixed-rate mortgage averaged 5.81%, down from last week when it averaged 5.84%. A year ago at this time, it averaged 5.96%.
Sam Khater, Freddie Mac’s chief economist, observed, “Incoming data continues to reflect a resilient consumer, with retail sales improving and pending home sales strengthening, suggesting purchase demand is continuing to modestly improve.”
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