Mortgage Rates Continue to Climb
MCLEAN, Va, July 06, 2023 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81 percent.
“Mortgage rates continued their upward trajectory again this week, rising to the highest rate this year so far,” said Sam Khater, Freddie Mac’s Chief Economist. “This upward trend is being driven by a resilient economy, persistent inflation and a more hawkish tone from the Federal Reserve. These high rates combined with low inventory continue to price many potential homebuyers out of the market.”
News Facts
- averaged 6.81 percent as of July 6, 2023, up from last week when it averaged 6.71 percent. A year ago at this time, the 30-year FRM averaged 5.30 percent.
- averaged 6.24 percent, up from last week when it averaged 6.06 percent. A year ago at this time, the 15-year FRM averaged 4.45 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our .
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: | | | | | |
MEDIA CONTACT:
Angela Waugaman
703-714-0644
A photo accompanying this announcement is available at
