📉 Rate Watch: June 👀 On May 29, 2025, Freddie Mac released its latest Primary Mortgage Market Survey. The average 30-year fixed mortgage rate was 6.89%, a slight increase from the previous week's 6.86%. Compared to this time last year, rates are down from 7.03%. (Source: Freddie Mac) Rates have remained in a tight range, staying just below 7%. The manufacturing report released on Monday, June 2nd from ISM had minimal impact but helped prevent a sharper increase in rates. The focus now shifts to Friday's jobs report, a key indicator for rate trends. (Source: MBS Live) Both Fannie Mae and the Mortgage Bankers Association (MBA) forecast a gradual decline in mortgage rates through 2026. The MBA anticipates a slower pace, but the outlook is broadly optimistic. (Source: NerdWallet) The Federal Reserve remains cautious amid economic uncertainty. Chair Jerome Powell emphasized a "wait and see" approach at May's meeting. The Fed's next decision comes June 17–18, and markets expect rates to hold steady. (Source: NerdWallet) (fb)

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