Average US long-term mortgage rate inches up to 6.93% this week for fourth straight increase
- The average long-term U.S. Mortgage rate has increased to 6.93% this week, marking the fourth consecutive rise, according to Freddie Mac's Primary Mortgage Market Survey.
- The 30-year fixed mortgage rate rose from 6.91% last week and is significantly higher than the 6.66% rate from a year ago.
- The average rate on a 15-year fixed mortgage also increased to 6.14%, up from 6.13% last week, and higher than the 5.87% rate a year ago.
- Sam Khater, Freddie Mac's Chief Economist, stated that high home prices and strong economic conditions are affecting housing affordability.
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Total News Sources0
Leaning Left5Leaning Right4Center6Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 33%
C 40%
R 27%
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