Freddie Mac (OTCQB: FMCC) (June 13, 2024) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.95 percent.
“Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.”
Mortgage Rate Facts Trending?
The 30-year FRM averaged 6.95 percent as of June 13, 2024, down from last week when it averaged 6.99 percent. A year ago at this time, the 30-year FRM averaged 6.69 percent.
The 15-year FRM averaged 6.17 percent, down from last week when it averaged 6.29 percent. A year ago at this time, the 15-year FRM averaged 6.10 percent.
Bottom Line: As mortgage interest rates continue to move down and prices in our local Santa Fe market to adjust due to more inventory, there are opportunities for you moving forward. There are several different mortgage products available for lst time home buyers, 2nd home purchasers and investors. Call or text me at 505-660-4541 for a consultation and to review your situation and explore options for your situation. Yes, it has been a challenging time for Santa Fe buyers, however, there are always solutions. Let’s talk about. Thank you for reading, Emily Medvec
