Mortgage Rates Move Lower — RISMedia

Economists say that while pockets of economic uncertainty persist, consumer confidence has rebounded from its spring dip; steady mortgage rates and improving buyer sentiment also could be setting the stage for a busy summer housing market.

According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the 30-year fixed-rate mortgage (FRM) averaged 6.81%, a decrease of 3 basis points from last week’s average of 6.84%.

“Mortgage rates moved lower, with the average 30-year fixed rate reaching a four-week low,” said Sam Khater, Freddie Mac’s chief economist. “More available inventory to choose from, coupled with this week’s decline in mortgage rates, could be the spark to get potential homebuyers off the…