September 28, 2021

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Mortgage News

Sub-3% mortgage rate streak comes to an end

A mortgage rate hike has ended a 10-week streak of below 3%, Freddie Mac reported Thursday.

For the first time since April, the 30-year fixed-rate mortgage benchmark rose above 3%, rising nine basis points to 3.02%. Freddie Mac chief economist Sam Khater assumes that this upward trend will continue.

“As the economy advances and inflation remains high, we expect interest rates to continue rising gradually in the second half of the year,” he said.