Freddie Mac: Mortgage rates expected to fall later this year - Breaking The News

Freddie Mac: Mortgage rates expected to fall later this year

15 June

1 min read

EPA-EFE/NEIL HALL

Mortgage rates are expected to fall later this year, Freddie Mac said Thursday while reporting that, as of June 15, the average rate on 30-year fixed-rate mortgages averaged 6.69%, down two points from the previous week.

Meanwhile, the 15-year fixed mortgage averaged 6.1%, three points higher than the previous week and up 1.29% from last year.

"As inflation continues to decelerate, economic growth is slowing, and the tightening cycle of monetary policy is reaching its apex," Freddie Mac concluded.

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