The 30-year fixed-rate mortgage averaged 6.5% as of February 23, according to data released by Freddie Mac on Thursday.
The average rate on a 15-year mortgage rose to 5.76%, from 5.51% the previous week. The 15-year was at 3.14% a year ago. Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging at 6.88% as of Thursday morning. What Freddie Mac said: “The economy continues to show strength, and interest rates are repricing to account for the stronger than expected growth, tight labor market and the threat of sticky inflation,” Sam Khater, chief economist at Freddie Mac, said in a statement.“Our research shows that rate dispersion increases as mortgage rates trend up. This means homebuyers can potentially save $600 to $1,200 annually by taking the time to shop among lenders to find a better rate,” he said.
$MBB $VMBS
This sucks I close on a 3 family in 2-3 weeks
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