Bussiness
Mortgage rates fall to 6.77%
The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis.
Mortgage rates fell again this week but remain uncomfortably high for many would-be buyers.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage declined to 6.77% this week from 6.89% last week. The average rate on a 30-year loan was 6.78% a year ago.
A “New Listing” sign outside a home in Napa, California, US, on Monday, May 6, 2024. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
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The average rate on the 15-year fixed mortgage also dropped to 6.05% from 6.17% last week. One year ago, the rate on the 15-year fixed note averaged 6.06%.
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