Mortgage rates continue to trend down, but affordability remains a pipe dream: Freddie Mac

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday.

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb

First-time homebuyers in America are hitting an unprecedented milestone, and it’s not one they’ll be celebrating.

America’s prospective homebuyers absorb harsh reality: Mortgage rates probably aren’t coming down for a while.

Freddie Mac: The average 30-year fixed-rate mortgage was 7.03% for the week ending Dec. 7. Freddie Mac's latest Primary Mortgage Market Survey shows mortgage rates are down. The mortgage market has been on the decline for the past two years, Freddie Mac says.

Freddie Mac: The average 30-year fixed-rate mortgage was 6.95% for the week ending Dec. 14. Freddie Mac's latest Primary Mortgage Market Survey shows mortgage rates dip below 7%. The housing outlook brightens for 2024: Freddie Mac says the housing outlook is brightening.

Mortgage rates drop to lowest level since last spring: Freddie Mac. Housing market is becoming slightly more affordable this year, Freddie Mac says. Freddie Mac: Home prices and interest rates are falling, and rates are also falling. Mortgage rates fall to lowest levels since the spring of 2013.

Freddie Mac: Average 30-year fixed-rate mortgage was 6.62% for the week ending Jan. 4. Many perspective homebuyers said they need rates to fall before buying a house. Freddie Mac's Primary Mortgage Market Survey: Rates are likely to keep dropping as 2024 unfolds.

Some cities are lowering home prices, but housing market largely remains unaffordable. Freddie Mac: Affordable housing is still unaffordable, even as rates drop. Mortgage rates continue to trend down, but affordability remains a pipe dream, Freddie Mac says. Some cities have lowered home prices.

Freddie Mac: Mortgage interest rates for 30-year mortgages rose to 6.77% this week, up from 6.64% last week. Freddie Mac says mortgage interest rates jumped up this week along with prices. Mortgage rates for mortgages are up from last week's average rate of 6.66%.

Fannie Mae survey: Homebuyers feel better about mortgage rates but still don't think now is a good time to buy a home. Fannie said that homebuyers don't want to wait for the mortgage market to get ready for a home purchase. Survey: Homeowners feel good about where mortgage rates are headed.

Freddie Mac: The average 30-year fixed-rate mortgage was 6.61% for the week ending Dec. 28. Freddie Mac's latest Primary Mortgage Market Survey shows mortgage rates end year lower. Mortgage rates ended year lower: Freddie Mac. Freddie Mac says 30-month mortgage rates were higher than last year.