Mortgage rates fall to 6.77%
Both 30-year and 15-year fixed mortgage rate averages declined
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Mortgage rates fell again this week but remain uncomfortably high for many would-be buyers.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage declined to 6.77% this week from 6.89% last week. The average rate on a 30-year loan was 6.78% a year ago.
A "New Listing" sign outside a home in Napa, California, US, on Monday, May 6, 2024. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
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The average rate on the 15-year fixed mortgage also dropped to 6.05% from 6.17% last week. One year ago, the rate on the 15-year fixed note averaged 6.06%.