Washington CNN —
Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market.
The standard 30-year fixed-rate mortgage averaged 6.87% in the week ending June 20, mortgage financing giant Freddie Mac reported Thursday. That’s down from last week’s 6.95% average and marks the third consecutive weekly decline. Rates are down from a 2024 peak of 7.22%.
“Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Federal Reserve rate cut,” said Sam Khater, Freddie Mac’s chief economist,
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