Freddie Mac: mortgage interest rates rose again last week

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The Freddie mac primary mortgage market survey (pmms) showed the average 30-year fixed mortgage rate rising to 4.15 percent – 11 basis points up from the 4.04 percent seen last week.

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Mortgage Interest Rates Down - Mortgage Applications Up 23.5%  · Mortgage rates rise again and look to be headed higher in the coming weeks. to come up with national average mortgage rates. [Freddie Mac would like to. a 10.7 percent year over year.

Mortgage rates increased for the 1 st time in 7-weeks in the week ending 20 th June. 30-year fixed rates rose by 2 basis points to 3.84% following no change from the previous week.

Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage rose to 4.46 percent, from 4.45 percent last week. Despite the recent declines, home borrowing rates are above last year’s levels. The key 30-year rate averaged 4.22 percent a year ago.

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Mortgage rates moved higher after remaining at around the same level for about three weeks. The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment.

Freddie Mac Chief Economist Sam Khater said while mortgage rates very modestly rose to 4.41% this week, they remain below last year’s levels for the fourth week in a row. "In late 2018, mortgage rates rose over a full percentage point from the prior year, which was one of the main reasons that weakness in home sales continued into early 2019," Khater continued. "However, the impact of recent lower rates and a strong labor market has led to a rise in purchase mortgage demand as we.

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Freddie Mac reported that last weeks’ rates for a 30-year fixed mortgage were up to 4.99 percent from 4.96 percent the week prior. This rate is before points and is for buyers who show exemplary credit and put 20 percent down on their mortgage.

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 · According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.14% with an average 0.5 point. (Points are fees paid to a lender equal to 1% of the loan amount and are in addition to the interest rate.) It was 4.20% a week ago and 4.55% a year ago.