“Mortgage rates retreated this week given incoming data showing slower growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to buy a home this year, waiting for lower rates may result in small savings, but shopping around for the best rate remains tremendously beneficial.”

News Facts

• The 30-year FRM averaged 6.99 percent as of June 6, 2024, down from last week when it averaged 7.03 percent. A year ago at this time, the 30-year FRM averaged 6.71 percent.
• The 15-year FRM averaged 6.29 percent, down from last week when it averaged 6.36 percent. A year ago at this time, the 15-year FRM averaged 6.07 percent.

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