US Mortgage Rates Continue to Inch Higher in the Week Ending May 28
Original Source:
Mortgage Rates Average 6.53%
Mortgage Rates Average 6.53%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, May 28.
The 30-year fixed-rate mortgage averaged 6.53%, up from 6.51% the previous week. A year ago at this time, the 30-year rate averaged 6.89%.
The 15-year fixed-rate mortgage averaged 5.87%, up from 5.85% last week. A year ago at this time, the 15-year rate averaged 6.03%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage averaged 6.53% this week. Pending home sales have increased three months in a row, indicating there’s latent demand and homebuyers are ready to jump back into the market if mortgage rates decline.”
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