Freddie Mac: Mortgage Rates Edged Down For a Second Straight Week


The average rate for a 30-year fixed-rate mortgage fell to 6.35% this week, down from 6.39% last week, according to Freddie Mac’s Primary Mortgage Market Survey.

It was the second straight week that rates edged down.

“This week’s decrease continues a recent sideways trend in mortgage rates, which is a welcome departure from the record increases of last year,” says Sam Khater, chief economist for Freddie Mac, in a statement. “While inflation remains elevated, its rate of growth has moderated and is expected to decelerate over the remainder of 2023.”

“This should bode well for the trajectory of mortgage rates over the long-term,” Khater adds.

The average rate for a 15-year fixed-rate mortgage dipped to 5.75%, down from 5.76%.

Photo: Roger Starnes Sr

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