Mortgage rates continue their steady climb upward. Rates for 30-year mortgages averaged 6.88% this past week, Freddie Mac reported. Rates last week averaged 6.82%, and a year ago, the 30-year fixed-rate mortgage averaged 6.27%."Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path," Sam Khater, Freddie Mac’s chief economist said.
A potential increase in houses for sale could bring some relief, though."Housing costs are likely to continue going up for the near future, but persistently high mortgage rates and rising supply could cool home-price growth by the end of the year, taking some pressure off costs," Zhao said.As more homes come on the market, you have more homebuying options. Make sure you’re ready with the right mortgage lender and rate. Head to Credible today to compare rates and lenders in minutes.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mortgage rates crawl toward 7% but market optimistic: Freddie MacThe average 30-year fixed-rate mortgage was 6.82% for the week ending March 21, according to Freddie Mac's latest Primary Mortgage Market Survey.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Mortgage rates are nearing 7% as inflation ticks back up: Freddie MacDue to inflation and rising demand, rates and housing prices are up.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Housing Market Update: Mortgage Rates Rise at the Worst TimeMortgage rates jumped for the week ending March 21, according to Freddie Mac.
Source: Newsweek - 🏆 468. / 52 Read more »
Mortgage Rates Expected to Decrease, but Mortgage-Backed Securities Pose a RiskMortgage rates are predicted to go down, but the performance of mortgage-backed securities could offset any benefits for homebuyers.
Source: latimes - 🏆 11. / 82 Read more »
Investors pushing for fatter yields on mortgage-backed securities may undercut easing mortgage ratesMortgage rates are expected to come down later this year, but any benefit to homebuyers could be muted by developments in the market for financial instruments tied to mortgages.
Source: ksatnews - 🏆 442. / 53 Read more »
Investors pushing for fatter yields on mortgage-backed securities may undercut easing mortgage ratesMortgage rates are expected to come down later this year, but any benefit to homebuyers could be muted by developments in the market for financial instruments tied to mortgages.
Source: wjxt4 - 🏆 246. / 63 Read more »