Mortgage Rates See Slight Increase

“Mortgage rates increased this week, coming in just under seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Both new home and pending home sales are down, causing active listings to rise. We are still expecting rates to moderately decrease in the second half of the year and given additional inventory, price growth should temper, boding well for interested homebuyers.”

News Facts

• The 30-year FRM averaged 6.95 percent as of July 3, 2024, up from last week when it averaged 6.86 percent. A year ago at this time, the 30-year FRM averaged 6.81 percent.
• The 15-year FRM averaged 6.25 percent, up from last week when it averaged 6.16 percent. A year ago at this time, the 15-year FRM averaged 6.24 percent.

Houses that are priced, presented & marketed correctly are selling fast.

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