FX.co ★ US Mortgage Rate Rises for 2nd Week

As of July 17th, the average interest rate for a 30-year fixed mortgage backed by Freddie Mac increased by 3 basis points from the prior week, reaching 6.75%. This follows a recent low of 6.67% observed two weeks ago in April. Sam Khater, Freddie Mac's chief economist, noted, "This week, the 30-year fixed-rate mortgage saw a slight increase and remains within a tight margin below 7%. Although challenges to affordability continue, the stability of the rate combined with moderately increasing inventory may encourage potential buyers to make a move."