Mortgage Rates Reverse, Trend UpBy RISMedia Staff
The average 30-year, fixed mortgage rate reversed trend, increasing to 3.56 percent this week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).
"Pipeline purchase demand continues to improve heading into the late fall with purchase mortgage applications up 9 percent from a year ago," says Sam Khater, chief economist at Freddie Mac. "The improved demand reflects the still healthy underlying consumer economic fundamentals such as a low unemployment rate, solid wage growth and low mortgage rates. While there has been a material weakness in manufacturing and consistent trade uncertainty, so far, the American consumer has proved to be resilient with solid home purchase demand." 30-Year Fixed
|
Today's Top Stories |