Key facts
- The average 30-year fixed mortgage rate in the U.S. fell to 6.43% this week.
- This is the lowest rate recorded since May 14.
- Last week, the average 30-year rate was 6.49%.
US 30-year mortgage rate drops to 6.43%, lowest in seven weeks
IN SHORT
The average rate for a 30-year fixed mortgage in the U.S. decreased to 6.43% this week, marking its lowest point since mid-May. This decline in borrowing costs offers some relief to potential homebuyers.
Key Numbers
6.43%average 30-year fixed mortgage rate
6.49%previous week's average 30-year rate
6.36%May 14 average 30-year rate
6.67%average 30-year rate one year ago
5.79%average 15-year fixed mortgage rate
5.84%previous week's average 15-year rate
5.8%average 15-year rate one year ago
Who's Involved
Freddie Mac
mortgage buyer reporting weekly rate data
↳ Why This Matters
The decline in mortgage rates can make homeownership more affordable, potentially stimulating demand in the housing market and influencing broader economic activity.