Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates slid down again this week but remain elevated compared to this time last year. Potential homebuyers have been watching rates closely and are waiting to come off the sidelines. However, inventory challenges persist as the number of existing homes for sale remains very low. Though, a recent rebound in single-family housing starts is an encouraging development that will hopefully extend through the summer."
• 30-year fixed-rate mortgage (FRM) averaged 6.67 percent for the week ending June 22, 2023, up from last month when it averaged 6.57 percent. A year ago, at this time, the 30-year FRM averaged 5.81 percent.
• 15-year FRM this week averaged 6.03 percent, up from last month when it averaged 5.97 percent. A year ago, at this time, the 15-year FRM averaged 4.92 percent.
