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Mortgage Rates Tick Up, But Stay Below 7%

  • May 15th

by UrbanTurf Staff

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Mortgage rates rose this week, but continued their week-long streak of remaining under 7%. 

Today, Freddie Mac reported 6.81% as the average on a 30-year mortgage, up five basis points from last week. 

"The 30-year fixed-rate mortgage remained below the 7% threshold for the 17th consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year.”

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_tick_up_but_stay_below_7/23507.

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