Long-term mortgage rates rose again this week.
Freddie Mac reported 6.65% as the average on a 30-year mortgage, up 15 basis points from last week.
“As we started the year, the 30-year fixed-rate mortgage decreased with expectations of lower economic growth, inflation and a loosening of monetary policy," said Sam Khater, Freddie Mac’s Chief Economist. "However, given sustained economic growth and continued inflation, mortgage rates boomeranged and are inching up toward seven percent.”
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/665_interest_rates_rise_again/20702.
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