Mortgage Rates Remain at the Lowest Level in Over

Mortgage Rates Remain at the Lowest Level in Over a Year
August 15, 2024
MCLEAN, Va., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today
®®
released the results of its Primary Mortgage Market Survey (PMMS ), showing the 30-year
fixed-rate mortgage (FRM) averaged 6.49 percent.
“While rates increased slightly this week, they remain more than half a percent lower than the same time last year,” said Sam Khater, Freddie Mac’s Chief Economist. “In 2023, the 30-year fixed-rate mortgage nearly hit 8 percent, slamming the brakes on the housing market. Now, the 30-year fixed-rate hovers around 6.5 percent and will likely trend down in the coming months as inflation continues to slow. Lower rates are good news for potential buyers and sellers alike.”
News Facts
The 30-year FRM averaged 6.49 percent as of August 15, 2024, up from
last week when it averaged 6.47 percent. A year ago at this time, the 30-year FRM averaged 7.09 percent.
Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of 08/15/2024
    The 15-year FRM averaged 5.66 percent, up from last week when it averaged 5.63 percent. A year ago at this time, the
15-year FRM averaged 6.46 percent.
®
 is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent
The PMMS
credit. For more information, view our Frequently Asked Questions.
 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: Website |
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Angela Waugaman
(703)714-0644 Angela_Waugaman@FreddieMac.com
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