Long-term mortgage rates in the U.S. continued to climb last week, reaching their highest level since July.
The average rate on thirty-year loans stood at 6.91% per annum on Thursday, up from 6.85% a week ago, government mortgage corporation Freddie Mac said. It was at 6.62% a year earlier.
“Mortgage rates hit their highest point in six months, a step away from 7%,” said Freddie Mac chief economist Sam Khater, quoted in the report. – Negative factors for the market persist.”
However, he noted that despite this, the index of pending home sales in the U.S. secondary market (pending home sales) in November rose.
The index is a leading indicator of activity in the real estate market . Pending sales are those for which a contract has been signed, but the transaction has not yet closed. It usually takes 4 to 6 weeks to close.
Fifteen-year mortgages now average 6.13% APR versus 6% a week ago and 5.89% a year ago.
Freddie Mac calculates average rates based on data from about 80 mortgage loan originators nationwide. The rates do not take into account potential fees and other fees associated with mortgages.
Long-term mortgages in the U.S.
