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Mortgage interest rates Rising house prices weighed on the housing market, which fell for the third straight week and fell below 7% for the first time in a month.g market.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average benchmark interest rate was 30-year fixed rate mortgage It dropped from 7.02% last week to 6.94% this week. The average interest rate on a 30-year loan was 6.57% a year ago.
View homes for sale in Austin, TX on May 22, 2024. Mortgage rates fell below 7% this week for the first time in more than a month. (Brandon Bell/Getty Images/Getty Images)
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The average interest rate on a 15-year fixed mortgage also fell to 6.24 percent from 6.28 percent the previous week. A year ago, the average interest rate on a 15-year fixed rate was 5.97 percent.
