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Mortgage Rates Rise For Third Week In A Row

  • 12:31 PM EDT

by UrbanTurf Staff

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Long-term mortgage rates rose for the third week in a row on Thursday.

Freddie Mac reported 6.38% as the average on a 30-year mortgage on Thursday, up 16 basis points from last week. 

"The housing market continues to show gradual improvements compared to a year ago amid recent rate volatility," said Sam Khater, Freddie Mac's Chief Economist. "Purchase and refinance applications are up year-over-year, and rates remain lower than last year when they averaged 6.65%."

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_rise_for_third_week_in_a_row/24461.

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