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Mortgage Rates Hit Highest Level Since The Summer

  • January 2nd

by UrbanTurf Staff

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Long-term mortgage rates are starting out 2025 at their highest rate since July.

On Thursday, Freddie Mac reported 6.91% as the average on a 30-year mortgage, up 6 basis points from the previous week. It is the highest level for rates in nearly six months. 

“Compared to this time last year, rates are elevated and the market’s affordability headwinds persist," said Sam Khater, Freddie Mac’s Chief Economist. "However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.”

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/mortgage_rates_hit_highest_level_since_the_summer/23041.

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