Mortgage rates continued to trend down this week, with the average rate for a 30-year falling to 2.78%, down 10 basis points from 2.88% last week, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the average rate for a 30-year was 3.01%.
“Concerns about the Delta variant, and the overall trajectory of the pandemic, are undoubtedly affecting economic growth,” says Sam Khater, chief economist for Freddie Mac, in