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Mortgage Rates Increase For Second Week In A Row

  • 12:57 PM EDT

by UrbanTurf Staff

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Long-term mortgage rates rose again this week. 

Freddie Mac reported 6.22% as the average on a 30-year mortgage on Thursday, up 11 basis points from last week. 

"The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year," said Sam Khater, Freddie Mac's Chief Economist. "Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales.”

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_increase_for_second_week_in_a_row/24439.

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