U.S. 30-year fixed-rate mortgage (FRM) averaged 6.95% as of July 3, 2024, up from last week when it averaged 6.86%. A year ago at this time, the 30-year FRM averaged 6.81%, according to Freddie Mac.
The 15-year FRM averaged 6.25%, up from last week when it averaged 6.16%. A year ago at this time, the 15-year FRM averaged 6.24%.
“Mortgage rates increased this week, coming in just under seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Both new home and pending home sales are down, causing active listings to rise. We are still expecting rates to moderately decrease in the second half of the year and given additional inventory, price growth should temper, boding well for interested homebuyers.”
