---
title: "U.S. mortgage rates edge up slightly, continuing to put pressure on potential homebuyers"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/209868471.md"
description: "The slight increase in mortgage rates in the United States is putting pressure on potential homebuyers. The 30-year fixed rate rose from 6.77% last week to 6.78%, while the 15-year fixed rate increased from 6.05% to 6.07%. Despite the rate drop, home purchase applications decreased by 4%. New home supply decreased, leading to a 16% drop in mortgage applications for home purchases, bringing new home sales to a seven-month low. Meanwhile, refinancing loan applications have surged to the highest level. Market forecasts suggest that the Federal Reserve may cut interest rates in September, but it is unlikely to significantly impact mortgage rates"
datetime: "2024-07-25T22:39:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/209868471.md)
  - [en](https://longbridge.com/en/news/209868471.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/209868471.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/209868471.md) | [English](https://longbridge.com/en/news/209868471.md)


# U.S. mortgage rates edge up slightly, continuing to put pressure on potential homebuyers

According to a report from Freddie Mac on July 25th, mortgage rates have slightly increased compared to the previous week, continuing to put pressure on potential homebuyers. The average rate for a 30-year fixed-rate mortgage rose from 6.77% last week to 6.78%. The 6.77% rate from last week was the lowest since mid-March, while a year ago, the rate was 6.81%.

In addition, the average rate for a 15-year fixed-rate mortgage increased from 6.05% last week to 6.07%. In comparison, a year ago, the average rate was 6.11%. Nevertheless, the current rates are still lower than the levels exceeding 7% at the end of April and early May.

Sam Khater, Chief Economist at Freddie Mac, stated in a press conference, "Mortgage rates have remained relatively stable, dropping nearly 0.5 percentage points from the peak at the beginning of the year." However, this decrease has not significantly sparked interest among homebuyers. Data adjusted for seasonal factors shows that mortgage applications for home purchases decreased by 4% compared to the previous week.

The latest data for June shows a decrease in new housing supply. According to data from the Mortgage Bankers Association, from May to June, mortgage applications for home purchases decreased by 16%, and new home sales hit a seven-month low, further indicating the suppressive effect of high mortgage rates and record-high home prices on buyer activity.

Meanwhile, more homeowners are eager to refinance their mortgages. According to a report from the Mortgage Bankers Association, refinance applications increased by 0.3% last week compared to the previous week, reaching the highest level since September 2022.

Market observers believe that due to slowing inflation and a cooling labor market, the Federal Reserve may cut interest rates for the first time this year in September. However, some predict that the Fed's actions may not immediately have a significant impact on mortgage rates.

Parker Ross, Global Chief Economist at Arch Capital Group, stated, "Even if the Fed, as expected by the market, starts cutting rates in September, mortgage rates are unlikely to significantly decrease by the second half of 2024." He pointed out that this is because the market already anticipates around six rate cuts in the next year

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