Long-term mortgage rates moved back up slightly this week.
Freddie Mac reported 7.18% as the average on a 30-year mortgage on Thursday, up 6 basis points from last week.
“Mortgage rates inched back up this week and remain anchored north of seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The reacceleration of inflation and strength in the economy is keeping mortgage rates elevated."
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: mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/718_mortgage_rates_inch_up/21467.
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