Washington
CNN
—
Mortgage charges fell this week to their lowest stage since early April, taking some stress off America’s unaffordable housing market.
The usual 30-year fixed-rate mortgage averaged 6.87% within the week ending June 20, mortgage financing big Freddie Mac reported Thursday. That’s down from final week’s 6.95% common and marks the third consecutive weekly decline. Charges are down from a 2024 peak of seven.22%.
“Mortgage charges fell for the third straight week following indicators of cooling inflation and market expectations of a future Federal Reserve price reduce,” mentioned Sam Khater, Freddie Mac’s chief economist, in a launch. “These decrease mortgage charges coupled with the regularly bettering housing provide bodes properly for the housing market.”
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