MarianVejcik
Long-term mortgage rates fell to their lowest level in about three months, and are expected to continue to come down over the summer months, according to the Freddie Mac Primary Mortgage Survey.
30-year fixed-rate mortgages averaged 6.86% as of June 27, down from 6.87% last week but higher than 6.71% from the same period a year ago.
15-year fixed-rate mortgages averaged 6.16%, higher than 6.13% a week ago and 6.06% a year ago.
“The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Freddie Mac’s chief economist, Sam Khater.
“By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer months, bringing additional homebuyers back into the market,” Khater added.