Mortgage rates remained stable in the past few weeks as markets continued to assess the implications of recent Federal Reserve policy decisions. The 30-year fixed-rate mortgage averaged 6.49% as of June 25, up modestly from 6.47% last week and below 6.77% a year ago, according to the latest Freddie Mac Primary Mortgage Survey. The 15-year fixed-rate mortgage averaged 5.84%, up from 5.81% a week ago and 5.89% a year ago. Freddie Mac's chief economist Sam Khater noted that rates have remained relatively stable over the last six weeks, with purchase activity easing modestly and refinance activity picking up. Mortgage Bankers Association CEO Bob Broeksmit said greater certainty around the interest rate outlook should help foster increased borrower confidence and support sustained housing market activity.
Freddie MacArticle mentions Freddie Mac's survey data and chief economist's comment on stable rates, but no direct impact on Freddie Mac's business.