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6.39%: Mortgage Rates Head Back Up
For the first time in six weeks, long-term mortgage rates headed back up today.
Freddie Mac reported 6.39% as the average on a 30-year mortgage on Thursday, up 12 basis points compared to last week.
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“Home prices have stabilized somewhat, but with supply tight and rates stuck above six percent, affordable housing continues to be a serious issue for many potential homebuyers," Sam Khater, Freddie Mac’s Chief Economist, said in a release. "Unless rates drop into the mid five percent range, demand will only modestly recover.”
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.
See other articles related to: interest rates, mortgage rate, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/639_mortgage_rates_head_back_up/20931.
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