Fixed-rate mortgages rose slightly this week, with further increases predicted in the short-term. The uptick followed a two-week downturn in which key rates hit their lowest levels since June.
Mortgage buyer Freddie Mac’s latest survey showed that the average rate on a 30-year mortgage increased 0.06 percentage point week-over-week. The 30-year average is now trending at 4.16 percent after previously dropping to 4.1 percent, which was the lowest level in four months. A year ago, the average rate on a 30-year fixed mortgage was 3.4 percent.
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