Mortgage Rates Up But Could Reverse Rise

There was a modest up tick in fixed interest rates on residential loans, but the rise could be reversed in the next report seven days from now.

Freddie Mac reported in its Primary Mortgage Market Survey that 30-year fixed rates average 3.48 percent in the week ended July 28.

That put the 30 year 3 basis points higher than in Freddie’s prior report. Long-term rates, however, fell 50 BPS from the same week last year.

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From:: Financing