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6.81%: Mortgage Rates Continue to Climb

  • July 6th 2023

by UrbanTurf Staff

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Mortgage rate chart 07-06-23.png

Long-term interest rates continued to rise this week. 

Freddie Mac reported 6.81% as the average on a 30-year mortgage on Thursday, up ten basis points compared to last week. 

“This upward trend is being driven by a resilient economy, persistent inflation and a more hawkish tone from the Federal Reserve," Sam Khater, Freddie Mac’s Chief Economist, said in a release. "These high rates combined with low inventory continue to price many potential homebuyers out of the market.”

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 rates

This article originally published at https://dc.urbanturf.com/articles/blog/681_mortgage_rates_continue_to_climb/21215.

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