Mortgage Rates Edge Up To 6.69%
By CU Today Staff —
MCLEAN, Va.—The average rate on a 30-year fixed-rate mortgage rose slightly to 6.69% this week, Freddie Mac reported.
The rate increased from 6.66% a week earlier and remained above the 6.63% average recorded during the same week last year, according to Freddie Mac’s Primary Mortgage Market Survey.
“The 30-year fixed-rate mortgage averaged 6.69% this week,” said Sam Khater, Freddie Mac’s chief economist. “While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with listing prices modestly below year-ago levels and for-sale inventory improving from the limited supply seen in recent years.”
The average rate on a 15-year fixed mortgage declined to 6.01% from 6.04% the previous week. A year earlier, the 15-year rate averaged 5.75%.
Originally reported by CU Today.