Mortgage Rates Edge Higher

In their weekly Primary Mortgage Market Survey® (PMMS®) Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 3.73%, ticking up from last week. In prepared remarks Freddie Mac’s Chief Economist Sam Khater said “with Federal Reserve policy on cruise control and the economy continuing to grow at a steady pace, mortgage rates have stabilized as the market searches for direction.”