After dropping for five weeks in a row, long-term mortgage rates increased ever so slightly on Thursday.
Freddie Mac reported 6.12% as the average on a 30-year mortgage, up three basis points from last week. Rates remain about a full point lower than they were in November.
“Following an interest rate hike from the Federal Reserve and a surprisingly strong jobs report, mortgage rates increased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “The 30-year fixed-rate continues to hover close to six percent, and interested homebuyers are easing their way back to the market just in time for the spring homebuying season.”
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/612_mortgage_rates_edge_up/20606.
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