U.S. 30-Year Mortgage Rates Fall in Latest Week -- Freddie Mac

By Matt Grossman

Average fixed mortgage rates for 30-year terms in the U.S. fell in the latest week, according to mortgage-finance company Freddie Mac, continuing declines in July.

"The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week," said Sam Khater, Freddie Mac's chief economist. "Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points."

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 2.88%, compared with 2.9% a week earlier and 2.98% a year earlier.

Rates on 15-year fixed-rate mortgages averaged 2.22%, compared with 2.2% the previous week and 2.48% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 2.47%, compared with 2.52% the previous week and 3.06% a year earlier.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 15, 2021 10:14 ET (14:14 GMT)

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