Mortgage Rates Edge Lower To 6.67%, Freddie Mac Reports
By CU Today Staff —
MCLEAN, Va.—Mortgage rates edged lower this week, with the average 30-year fixed-rate mortgage falling to 6.67%, according to Freddie Mac’s latest Primary Mortgage Market Survey.
The 30-year rate declined from 6.69% a week earlier but remained slightly above the 6.58% average recorded at the same time last year. The 15-year fixed-rate mortgage averaged 5.96%, down from 6.01% last week but up from 5.71% a year ago.
“Mortgage rates remained relatively stable this week at 6.67%,” said Sam Khater, Freddie Mac’s chief economist. “Housing affordability has improved from a year ago, and recent increases in purchase and refinance applications suggest that borrowers continue to respond to even modest changes in mortgage rates.”
The latest decline comes as borrowers remain highly sensitive to changes in financing costs after an extended period of elevated mortgage rates.
Originally reported by CU Today.