Mortgage Rates Hold, Could Climb

Interest rates on residential loans held steady this past week. But an increase is likely in the next report unless tomorrow’s employment report is weak.

The Primary Mortgage Market Survey from Freddie Mac had fixed rates on 30-year mortgages averaging 3.42 percent in the week ended Oct. 6.

Although there was no change in long-term rates compared to the previous week, rates have declined from 3.76 percent in the same week last year.

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From:: Financing