Mortgage Rates Fall For Third Straight Week With Signs Of Lower Inflation, Fed Rates
Portfolio Pulse from Michael Juliano
Mortgage rates have fallen for the third consecutive week due to signs of cooling inflation and lower interest rates from the Federal Reserve, according to Freddie Mac. The 30-year fixed mortgage rate averaged 6.87%, down from 6.95% last week, while the 15-year fixed mortgage rate averaged 6.13%, down from 6.03% last week.
June 20, 2024 | 8:12 pm
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Freddie Mac reports a decline in mortgage rates for the third consecutive week, driven by cooling inflation and lower Fed rates. This trend is positive for the housing market and could boost Freddie Mac's business.
The decline in mortgage rates is directly linked to Freddie Mac's business, as it indicates a potentially stronger housing market. Lower rates can lead to increased mortgage applications and refinancing, benefiting Freddie Mac.
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