U.S. Mortgage Rates Dip Again in Late June

According to Freddie Mac's June 2018 Primary Mortgage Market Survey, U.S. mortgage rates declined over the past week and have now retreated in four of the past five weeks. Sam Khater, Freddie Mac's chief economist, says mortgage rates have settled down and stabilized these last two months. "The decrease in borrowing costs is a nice slice of relief for prospective buyers looking to get into the market this summer," he said. "Some are undoubtedly feeling the affordability hit from swift price appreciation and mortgage rates that are still 67 basis points higher than this week a year ago."