Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Following several weeks of decline, mortgage rates changed course this week. More hawkish commentary about inflation and tepid demand for longer-dated Treasury auctions caused market yields to rise across the board. This reality, as well as economic signals that have moved sideways over the last few weeks, have resulted in mortgage rates drifting higher as markets continue to dial back expectations of interest rate cuts."
• 30-year fixed-rate mortgage (FRM) averaged 7.03 percent for the week ending May 30, 2024, down from last month when it averaged 7.17 percent. A year ago, at this time, the 30-year FRM averaged 6.79 percent.
• 15-year FRM this week averaged 6.36 percent, down from last month when it averaged 6.44 percent. A year ago, at this time, the 15-year FRM averaged 6.18 percent.
