Global economic anxiety and market turbulence slightly eased, which led average long-term U.S. mortgage rates to rise this week for the first time in two months. The average rate on a 30-year fixed-rate mortgage increased to 3.64 percent from 3.62 percent, according to Freddie Mac. The average rate on 15-year fixed-rate mortgages edged up to 2.94 percent from 2.93 percent. Though markets have stabilized and some economic anxiety has eased, most experts don't expect the Federal Reserve to raise the short-term interest rate it controls anytime soon, following its rate hike in December.
Wednesday, July 20, 2016
Average US rate on 30-year mortgage ticks up to 3.64 percent
Source: AP
Global economic anxiety and market turbulence slightly eased, which led average long-term U.S. mortgage rates to rise this week for the first time in two months. The average rate on a 30-year fixed-rate mortgage increased to 3.64 percent from 3.62 percent, according to Freddie Mac. The average rate on 15-year fixed-rate mortgages edged up to 2.94 percent from 2.93 percent. Though markets have stabilized and some economic anxiety has eased, most experts don't expect the Federal Reserve to raise the short-term interest rate it controls anytime soon, following its rate hike in December.
Global economic anxiety and market turbulence slightly eased, which led average long-term U.S. mortgage rates to rise this week for the first time in two months. The average rate on a 30-year fixed-rate mortgage increased to 3.64 percent from 3.62 percent, according to Freddie Mac. The average rate on 15-year fixed-rate mortgages edged up to 2.94 percent from 2.93 percent. Though markets have stabilized and some economic anxiety has eased, most experts don't expect the Federal Reserve to raise the short-term interest rate it controls anytime soon, following its rate hike in December.
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