Mortgage Rates Continue to Decline to New 2017 Lows During the Month of June!

During the month of June, the Freddie Mac 30-year fixed conventional program’s APR reached a new 2017 low of 3.88%. Mortgage Rates during the month of June varied by only 6 basis points it reached a monthly high of 3.94% during the first week of the month, and ended the month with the lowest rate of 2017 at an APR of 3.88%. June was the first month that all the Freddie Mac 30-year fixed conventional rates reported were below the 4.00% rate. The 2017 low of 3.88% APR is 42 basis points below the 2017 high of 4.30% APR set during mid-March. A year ago at this time the 30-year fixed rate conventional APR was 3.48%, only 40 basis points above June’s low of 3.88% APR. The year on year gap is slowly closing in as rates continue to decline.