U.S. Mortgage Rates Rise Above 7 Percent, Again

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.03 percent as of May 30, 2024.

Sam Khater

"Following several weeks of decline, mortgage rates changed course this week," said Sam Khater, Freddie Mac's Chief Economist. "More hawkish commentary about inflation and tepid demand for longer-dated Treasury auctions caused market yields to rise across the board. This reality, as well as economic signals that have moved sideways over the last few weeks, have resulted in mortgage rates drifting higher as markets continue to dial back expectations of interest rate cuts."

Freddie Mac News Facts

• The 30-year FRM averaged 7.03 percent as of May 30, 2024, up from last week when it averaged 6.94 percent. A year ago at this time, the 30-year FRM averaged 6.79 percent.
• The 15-year FRM averaged 6.36 percent, up from last week when it averaged 6.24 percent. A year ago at this time, the 15-year FRM averaged 6.18 percent.

---

Related News Stories

Dubai, Palm Beach and Miami Lead World's Super Luxury Home Sales

Florida, Texas Condo Supply is Piling Up as Sales Slow

U.S. Office Landlords Tenant Concessions Decline for First Time in 4 Years

Affordability and U.S. Election Stalling U.S. Consumers Home Buying Decisions

World Property Markets, World Property Media to Commence Large Funding Rounds

Seattle, Orlando and New York Top Labor Day Destinations in 2024