Mortgage buyer Freddie Mac reported that the average for the 30-year home loan eased to 2.98% from 3.02% last week, “Economic growth remains steady and is bolstering more segments of the economy. Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.”
U.S. weekly averages as of 07/01/2021
Freddie Mac is a mortgage buyer that is “We are committed to our mission of providing liquidity, stability and affordability to the housing market.” Their report concluded with the following disclaimer: “Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.”
This report was launched after the Biden- Harris Administration announced an extension to the 2021 Foreclosure Moratorium to help keep people in their homes.
What does this mean for you? Contact us and a Loan Officer will walk you through a complimentary mortgage analysis.
Opinions, estimates, forecasts, and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, and should not be construed as indicating Freddie Mac’s business prospects or expected results. Although the Economic & Housing Research group attempts to provide reliable, useful information, it does not guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Information from this document may be used with proper attribution. Alteration of this document or its content is strictly prohibited. © 2021 by Freddie Mac.