The average 30-year fixed-rate mortgage stood at 6.01 percent this week, down from last week, when it was 6.21 percent, according to Freddie Mac’s Primary Mortgage Market Survey.
“Long-term mortgage rates this week fell to levels equal to those experienced in April, reacting in large part to last Friday’s news of less than stellar job growth in June,” said Frank Nothaft, Freddie Mac vice president and chief economist. “This is good news for those who are still house hunting, as lower rates mean more affordable housing. Meanwhile, home construction remains strong and home sales continue to break records easily. In fact, total home sales should end the year 2 percent higher than 2003’s all time record level.”
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