The average 30-year fixed-rate mortgage decreased to 6.78% for the week ending July 20, according to Freddie Mac's latest Primary Mortgage Market Survey.
“This upward trend is being driven by a resilient economy, persistent inflation and a more hawkish tone from the Federal Reserve,” said Freddie Mac’s Chief Economist Sam Khater.
WASHINGTON • Average long-term U.S. mortgage rates jumped back up ahead of next week s Federal Reserve meeting where it s expected to announce another big increase to its main borrowing rate.