Mortgage rates declined again this week following the Federal Reserve‘s recent pause on monetary tightening. However, rates on home loans remain at elevated levels compared to last year and that pause looks temporary. 

What should we expect from the summer home-buying season?  

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 6.67% as of June 22, down from last week’s 6.69%. To illustrate, the 30-year was at 5.81% a year ago at this time. 

Other indexes also show rates details ⇒

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