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Long-Term Mortgage Rates Continue To Creep Up

  • May 7th

by UrbanTurf Staff

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Mortgage rate chart_05-07-26.png

Long-term mortgage rates rose again this week. 

Freddie Mac reported that the 30-year rate averaged 6.37%, up from 6.30% last week, but well below the 6.76% recorded a year ago. 

“Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years," Freddie Mac chief economist Sam Khater said. "Together, these trends could modestly ease affordability pressures through 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.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/long-term_mortgage_rates_continue_to_creep_up/24602.

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