Mortgage Rates Continue to Come Down
MCLEAN, Va., June 15, 2023 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.69 percent.
“Mortgage rates decreased slightly this week in anticipation of the pause in rate hikes by the Federal Reserve," said Sam Khater, Freddie Mac’s Chief Economist. “As inflation continues to decelerate, economic growth is slowing and the tightening cycle of monetary policy is reaching its apex, which means mortgage rates are expected to decrease later this year and into next.”
News Facts
- averaged 6.69 percent as of June 15, 2023, down from last week when it averaged 6.71 percent. A year ago at this time, the 30-year FRM averaged 5.78 percent.
- averaged 6.10 percent, up from last week when it averaged 6.07 percent. A year ago at this time, the 15-year FRM averaged 4.81 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
