US Mortgage Rates Inch Higher in the Week Ending May 29
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Mortgage Rates Continue to Stay Under the 7% Threshold
Mortgage Rates Continue to Stay Under the 7% Threshold
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, May 29.
The 30-year fixed-rate mortgage averaged 6.89%, up from last week when it averaged 6.86%. A year ago at this time, the 30-year rate averaged 7.03%.
The 15-year fixed-rate mortgage averaged 6.03%, up from last week when it averaged 6.01%. A year ago at this time, the 15-year rate averaged 6.36%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week, the 30-year fixed-rate mortgage rose slightly higher. Aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes.”
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