Freddie Mac: 30-Year Mortgage Rate Rises To 6.49%
By CU Today Staff —
MCLEAN, Va.— Mortgage rates edged higher this week but remained in the mid-6% range, with the average rate on a 30-year fixed-rate mortgage climbing to 6.49%, according to the latest weekly survey from Freddie Mac.
The 30-year fixed-rate mortgage averaged 6.49% as of July 9, up from 6.43% a week earlier but below the 6.72% average recorded during the same week a year ago. Freddie Mac Chief Economist Sam Khater said mortgage rates have been relatively stable in recent weeks, while economic growth and housing affordability continue to improve for prospective homebuyers.
The average rate on a 15-year fixed-rate mortgage also increased, rising to 5.82% from 5.79% the previous week. A year earlier, the 15-year mortgage averaged 5.86%, Freddie Mac reported.
Originally reported by CU Today.