Mortgage Rates Creep Up Slightly

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Mortgage rates registered a mild uptick in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.49% as of July 9, up from last week when it averaged 6.43%. A year ago at this time, it averaged 6.72%.

The 15-year fixed-rate mortgage averaged 5.82%, up from last week when it averaged 5.79%. A year ago at this time, it averaged 5.86%.

Sam Khater, Freddie Mac’s chief economist, observed, “Mortgage rates have not changed much recently, but economic growth and housing affordability continue to improve for homebuyers as they shop for homes in today’s market.”