U.S. Mortgage Rates Fall in Latest Week -- Freddie Mac
July 08 2021 - 10:26AM
Dow Jones News
By Allison Prang
Average fixed mortgage rates in the U.S. fell in the latest
week, according to mortgage-finance company Freddie Mac.
"We expect economic growth to gradually drive interest rates
higher, but homebuyers and refinance borrowers still have an
opportunity to take advantage of 30-year rates that are expected to
continue to hover around three percent," Freddie Mac Chief
Economist Sam Khater said in prepared remarks Thursday.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 2.9%, compared with 2.98% a week earlier and 3.03% a year
earlier.
Rates on 15-year fixed-rate mortgages averaged 2.2%, compared
with 2.26% the previous week and 2.51% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.52%, compared with 2.54% the previous
week and 3.02% a year earlier.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 08, 2021 10:14 ET (14:14 GMT)
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