Mortgage rates were up very little this past week. The 30 Year Fixed Rate Mortgage was 6.71% and the 15 Year Fixed Rate Mortgage was 6.06% in Freddie Mac’s Weekly Survey released today. See current survey below with its most recent assessment of the mortgage rate landscape.
Rates have been within a quarter point of 6.50%, both above and below, for the past few months. This relative rate stability, combined with the summer housing demand and a lack of houses for sale, seem to be keeping house prices strong for now. Of course affordability continues to remain an overhang on the demand side, but that doesn’t seem to matter much at the moment.
(dynamic charts with current data)
