"Today's 30-year mortgage rate has stayed flat since yesterday, sitting at 6.41%. This puts the 30-year rate at its lowest point since early April. Most economists don't expect mortgage interest rates to drop much more this year, so it could be a good weekend to lock in a rate and start house hunting. Mortgage loan rates have fallen a quarter of a point over the past six weeks. Yippee! RATES THIS WEEK: In Bankrate's weekly mortgage rate survey, conducted every Wednesday, the average rate on a 30-year, fixed-rate mortgage fell 10 basis points, to 6.12 percent."
"Freddie Mac's weekly survey says the average 30-year fixed fell 5 basis points, to 6.1 percent. Bankrate's and Freddie's surveys use different methodologies and usually result in similar numbers, as they did this week."
"Over the last six weeks, long-term mortgage rates have dropped nearly a quarter of a percent in the face of little or no inflationary pressures. Our outlook for the housing industry continues to be that mortgage rates will remain affordable for the rest of the year at least, keeping the industry alive and well into the foreseeable future."
The 30-year fixed mortgage rate has declined for six consecutive weeks and currently sits at 6.41%, the lowest since early April. Bankrate's weekly survey reports the average 30-year fixed fell 10 basis points to 6.12%, while Freddie Mac's weekly survey shows a 5-basis-point decline to 6.1%. Mortgage loan rates have dropped roughly a quarter of a percentage point over the past six weeks amid little or no inflationary pressure. The outlook anticipates mortgage rates remaining relatively affordable for the rest of the year, and most economists do not expect much further decline, so locking in a rate is recommended.
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