Long-term mortgage rates have inched up over the last two weeks after hitting 3.41 percent just after July 4th.
This week, Freddie Mac reported that 30-year fixed-rate mortgages averaged 3.45 percent with an average 0.5 point, up three basis points from last week.
“Post-Brexit volatility tapered off over the last two weeks, allowing interest rates to bounce back a bit from their record (10-year Treasury yield) and near-record (30-year mortgage rate) lows,” Freddie Mac’s Sean Becketti said in a statement. “With the Federal Reserve on hold and the UK monetary authority taking at least a one-month breather, we don’t expect any significant movement in mortgage rates in the near-term. This summer remains an auspicious time to buy a home or to refinance an existing mortgage.”
The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.
This article originally published at https://dc.urbanturf.com/articles/blog/3.45_mortgage_rates_tick_up_slightly/11496.
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