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Mortgage Rates Hold Steady At 7.4%

  • 12:04 PM EDT

by UrbanTurf Staff

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Mortgage rates didn’t budge this week, leaving buyers where they were a week ago and well above where they stood a year back.

The 30-year fixed-rate mortgage averaged 7.40% as of Thursday, unchanged from last week, according to Freddie Mac’s latest Primary Mortgage Market Survey. A year ago, the 30-year averaged 6.27%, which puts today’s rate more than a full percentage point higher.

“The average 30-year fixed-rate mortgage remained unchanged this week,” said Sam Khater, Freddie Mac’s chief economist.

The 15-year fixed-rate mortgage ticked down slightly, averaging 6.71% versus 6.73% last week. It’s also up significantly from a year ago, when it averaged 5.52%.

See other articles related to: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_hold_steady_at_74/25098.

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