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Mortgage Rates Make First Jump in 6 Weeks

Mortgage News > Mortgage Rates Make First Jump in 6 Weeks
Date: 07/24/2020    Mortgage Rates Make First Jump in 6 Weeks

After five straight weeks of declines, long-term mortgage interest rates rose this week according to Freddie Mac. The average rate on a 30-year fixed-rate conventional mortgage increased to 3.01% with an average 0.8 point during the week ended July 23, 2020, and up from 2.98% the week before. One year ago, the average rate was much higher at 3.75%. Freddie Mac chief economist Sam Khater believes that housing demand will continue to rebound as rates remain near record lows.

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