US Mortgage Rates Edge Higher in the Week Ending May 15
Original Source:
Mortgage Rates Remain Under Seven Percent
Mortgage Rates Remain Under Seven Percent
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, May 15.
The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.76%. A year ago at this time, the 30-year rate averaged 7.02%.
The 15-year fixed-rate mortgage averaged 5.92%, up from last week when it averaged 5.89%. A year ago at this time, the 15-year rate averaged 6.28%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage remained below the 7% threshold for the 17th consecutive week. Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.