Mortgage rates move lower for second week: Freddie Mac

Mortgage rates continued to operate in the same low 6.8% range they have been in for most of the past two months since a 21 basis point spike in mid-April, according to Freddie Mac.

The 30-year fixed rate mortgage declined 1 basis point as of June 12 from one week prior, to 6.84%, the Freddie Mac Primary Mortgage Market Survey reported. A year ago at this time, it was at 6.95%.

Meanwhile, the 15-year FRM was 2 basis points lower, to 5.97% from the week of June 6. For the same week in 2024, it was at 6.17%.

“Mortgage rates have moved within a narrow range for the past few months and this week is no different,” said Sam Khater, Freddie Mac’s chief economist, in a press release. “Rate stability, improving inventory and slower house price growth are an encouraging combination as we celebrate…