According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.01% in the week ending September 30, a weekly increase of 13 basis points that marked the benchmark rate’s highest level since June 24.
"We expect mortgage rates to continue to rise modestly which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year," Freddie Mac chief economist Sam Khater said in a statement.