Freddie Mac's Primary Mortgage Market Survey®, out Thursday, reported that the 30-year fixed-rate mortgage rate fell to 3.82%, the sixth consecutive weekly decline and its lowest level since September 2017.

“While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wide dispersion among mortgage rate offers, Sam Khater, Freddie Mac’s chief economist, said. "By shopping around and getting a single additional mortgage rate quote, a borrower can save an average of $1,500.”

“These low rates are also good news for current homeowners. With rates dipping below 4%, there are over $2 trillion of outstanding conforming conventional mortgages eligible to be refinanced – meaning the majority of what was originated in 2018 is now eligible,” he added.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.82% with an average 0.5 point for the week ending June 6, 2019, down from last week when it averaged 3.99%. A year ago at this time, the 30-year FRM averaged 4.54%.
  • 15-year FRM averaged 3.28% with an average 0.5 point, down from last week when it averaged 3.46%. A year ago at this time, the 15-year FRM averaged 4.01%.