U.S. 30-year fixed-rate mortgage (FRM) averaged 6.78% as of July 25, 2024, up slightly from last week when it averaged 6.77%. A year ago at this time, the 30-year FRM averaged 6.81%, according to Freddie Mac.
The 15-year FRM averaged 6.07%, up from last week when it averaged 6.05%. A year ago at this time, the 15-year FRM averaged 6.11%.
“Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite these lower rates, buyers continue to pause, as reflected in tumbling new and existing home sales data.”
