Mortgage Rates Decline to Two-Month Low

In a significant shift, Freddie Mac announced on Thursday that the average interest rate for 30-year fixed-rate mortgages has decreased to 6.76%, a drop from 6.85% the previous week. This rate is the lowest observed since mid-December 2024, signaling a potential boost for the housing market.

Encouraging Signs for Homebuyers

Sam Khater, Freddie Mac's Chief Economist, highlighted the dual positive trends of declining mortgage rates and a modest improvement in housing inventory. These factors are seen as encouraging signs for consumers contemplating home purchases, potentially easing the path to homeownership.

15-Year Fixed-Rate Mortgages Also See a Decrease

Similarly, the average rate for 15-year fixed-rate mortgages has decreased to 5.94% this week, down from 6.04% last week. This downward trend in mortgage rates across the board suggests a favorable environment for prospective homebuyers.