The average rate on a 30-year fixed mortgage fell this week to 6.06%, according to the latest Freddie Mac data released on Thursday. That is down from last week’s reading of 6.16%.
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Mortgageratesfellagainthisweektothelowestlevelinmorethanthreeyears,mortgagebuyerFreddieMacsaidThursday.
FreddieMac’slatestPrimaryMortgageMarketSurvey,releasedThursday,showedtheaveragerateonthebenchmark30-yearfixedmortgagedecreasedto6.06%fromlastweek’sreadingof6.16%.
Theaveragerateona30-yearloanwas7.04%ayearago.It’sthelowestlevelsinceSept.15,2022,whentheaveragerateona30-yearmortgagewas6.02%.
THESE10MARKETSMAYSEETHEBIGGESTHOMEBUYINGSURGEASMORTGAGERATESFALL
“Latelastweek,mortgageratesdropped,drivingtheweeklyaveragedowntoitslowestlevelinmorethanthreeyears,”saidSamKhater,FreddieMac’schiefeconomist.“Theimpactsarenoticeable,asweeklypurchaseapplicationsandrefinanceactivityhavejumped,underscoringthebenefitsforbothbuyersandcurrentowners.It’sclearthathousingactivityisimprovingandpoisedforasolidsp
