US Mortgage Rates Creep Higher in the Week Ending May 22
Original Source:
30-Year Fixed-Rate Mortgages Average 6.86%
30-Year Fixed-Rate Mortgages Average 6.86%
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, May 22.
The 30-year fixed-rate mortgage averaged 6.86%, up from last week when it averaged 6.81%. A year ago at this time, the 30-year rate averaged 6.94%.
The 15-year fixed-rate mortgage averaged 6.01%, up from last week when it averaged 5.92%. A year ago at this time, the 15-year rate averaged 6.24%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates inched up this week but continue to remain lower than one year ago. With more inventory for buyers to choose from than the last few years, purchase application activity continues to hold up.”
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