Mortgage rates barely moved this week, but long-term notes declined to the lowest levels Americans have seen since 2022.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.08% from last week's reading of 6.09%. The average rate on a 30-year loan was 7.31% a year ago.
"Although this week’s decline was slight, the 30-year fixed-rate mortgage trended down to its lowest level in two years," said Sam Khater, Freddie Mac’s chief economist.