US Mortgage Rates Increase for Fifth Consecutive Week
Mortgage Rates Average 6.69%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, August 6.
The 30-year fixed-rate mortgage averaged 6.69%, up from 6.66% the previous week. A year ago at this time, the 30-year rate averaged 6.63%.
The 15-year fixed-rate mortgage averaged 6.01%, down from 6.04% last week. A year ago at this time, the 15-year rate averaged 5.75%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage averaged 6.69% this week. While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with listing prices modestly below year-ago levels and for-sale inventory improving from the limited supply seen in recent years.”
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