Mortgage rates inched up in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.30% as of Sept. 25, up from last week when it averaged 6.26%. A year ago at this time, it averaged 6.08%.
The 15-year fixed-rate mortgage averaged 5.49%, up from last week when it averaged 5.41%. A year ago at this time, it averaged 5.16%.
“Following several weeks of decline, mortgage rates inched up this week,” said Sam Khater, Freddie Mac’s chief economist. “Housing market activity continues to hold up with purchase and refinance applications increasing by 18% and 42%, respectively, compared to the same time last year.”
