After a slight decline this week, mortgage rates are expected to stay at their current elevated levels for a while in reaction to the Federal Reserve‘s (Fed) decision to pause its tightening monetary policy in June. In turn, mortgage origination volumes will remain under pressure for the remainder of the year.

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.69% as of June 15, down from last week’s 6.71%. The 30-year was details ⇒

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