2023-06-08 12:13:23 ET
- Mortgage rates decreased this week after three consecutive weeks of climb, according to the Freddie Mac Primary Mortgage Survey.
- 30-year fixed-rate mortgages averaged 6.71% as of June 8, down from last week when they averaged 6.79% and up from 5.23% a year ago.
- 15-year fixed-rate mortgages averaged 6.07%, lower than last week when they averaged 6.18% and higher than the year-ago 4.38%.
- "While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers," Freddie Mac's chief economist, Sam Khater, said.
- Here is a look at the survey results:
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Mortgage rates decrease after 3 weeks of climb