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Mortgage rates continued to move higher this week
Freddie Mac has released its latest Primary Mortgage Market Survey, showing that average mortgage rates inched higher this week. The benchmark 30-year fixed-rate mortgage (FRM) now stands at 6.75%, marking a modest increase from 6.72% last week. Meanwhile, the 15-year FRM rose to 5.92%, up from 5.86%.
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The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.
The average rate on a 30-year U.S. mortgage edged up this week, ending a five-week decline in borrowing costs for homebuyers.
Mortgage rates today are steady, but loan demand fell 10% after recent rate increases. See what’s driving today’s trends.
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