HOMZ - Long-term mortgage rates inch up as markets price in possible rate hike
2023-06-01 12:15:17 ET
- Long-term mortgage rates inched up as the markets priced in a possible rate hike, according to the Freddie Mac Primary Mortgage Survey.
- 30-year fixed-rate mortgage rates averaged 6.79% for the week ending June 1, up from last week when they averaged 6.57% and 5.09% in the year-ago period.
- 15-year fixed-rate mortgage rates averaged 6.18%, higher than 5.97% last week and 4.32% a year ago.
- "Mortgage rates jumped this week, as a buoyant economy has prompted the market to price-in the likelihood of another Federal Reserve rate hike," Freddie Mac's chief economist, Sam Khater, said.
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Long-term mortgage rates inch up as markets price in possible rate hike