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Mortgage Rates Tick Up To 6.72%

  • July 10th

by UrbanTurf Staff

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Mortgage rate chart_07-10-25.png

Long-term mortgage rates rose on Thursday after dropping for several weeks. 

Freddie Mac reported 6.72% as the average on a 30-year mortgage, up five basis points from last week. 

“Despite ongoing affordability challenges in the housing market, we are seeing home purchase and refinance applications respond to the downward trajectory in rates, increasing by 25% and 56%, respectively, compared to the same time last year,” Sam Khater, Freddie Mac’s Chief Economist, said. 

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_673/23669.

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