A"For Sale" sign is displayed in front of a home in Skokie, Ill., Sunday, April 14, 2024. On Thursday, Mat 23, 2024, Freddie Mac reports on this week's average U.S. mortgage rates. –
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also declined this week, trimming the average rate to 6.24% from 6.28% last week. A year ago, it averaged 5.97%, Freddie Mac said. Last month’s rise in rates were an unwelcome development for prospective homebuyers in the midst of what’s traditionally the busiest time of the year for home sales. On average, more than one-third of all homes sold in a given year are purchased between March and June.
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