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Mortgage Rates Rise, But Still Below 7%

  • April 17th

by UrbanTurf Staff

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Mortgage rate chart_04-17-25.png

Mortgage rates shot up on Thursday, but still remained below 7% for the 13th straight week. 

Today, Freddie Mac reported 6.83% as the average on a 30-year mortgage, up 21 basis points from last week. 

“At this time last year, rates reached 7.1% while purchase application demand was 13% lower than it is today, a clear sign that this year’s spring homebuying season is off to a stronger start,” said Sam Khater, Freddie Mac’s Chief Economist. 

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/mortgage_rates_rise_but_still_below_7/23411.

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