Long-term mortgage rates remained in the 6.6% range this week.
On Thursday, Freddie Mac reported 6.64% as the average on a 30-year mortgage, up one basis points from last week.
“The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust," said Sam Khater, Freddie Mac’s Chief Economist. "Meanwhile, affordability in the housing market is an ongoing issue due to continued high home prices, elevated mortgage rates and low supply of homes on the market, particularly for first-time and low-income homebuyers.”
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.
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_tick_up_to_664/21951.
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