MCLEAN, Va., July 25, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for June 2024, which provides information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. S
The average rate on the popular U.S. 30-year fixed-rate mortgage edged up to 6.78% for the week ending July 25, leaving it about half a percentage point below its peak earlier this year, as buyers still show signs of hesitancy to enter the market. That was up slightly from 6.77% in the prior week, mortgage finance agency Freddie Mac said on Thursday. "Despite these lower rates, buyers continue to pause, as reflected in tumbling new and existing home sales data," Chief Economist Sam Khater said in a statement.
Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it's been in most of this year. The rate rose to 6.78% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.11%, Freddie Mac said.