Mortgage Rates Fall For Second Straight Week In Response to Positive Economic Data
Portfolio Pulse from Michael Juliano
Mortgage rates have fallen for the second consecutive week due to easing inflation. The average 30-year fixed-rate mortgage is now 6.95%, down from 6.99% the previous week. The Federal Reserve has maintained the federal funds rate range at 5.25% to 5.5%.
June 14, 2024 | 8:31 pm
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POSITIVE IMPACT
Freddie Mac reported a drop in mortgage rates for the second consecutive week, with the average 30-year fixed-rate mortgage now at 6.95%. This is a positive sign for the housing market as inflation eases.
The drop in mortgage rates reported by Freddie Mac is likely to positively impact the housing market and potentially increase demand for mortgages, benefiting FMCC.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80