Estimated reading time: 0 minutes, 27 seconds

Mortgage Rates Tick Up as Activity Hits 22-Year Low

Weekly long-term U.S. mortgage rates have inched upward, as mortgage demand sank to its lowest in 22 years. So reports Yahoo! Money.

arrow 306811 640 smallAccording to Freddie Mac, the 30-year fixed-rate mortgage averaged 5.54% in the week ending July 21, up from 5.41% the week before.

Although down from 5.81% in late June, the average rate was still up more than 2 percentage points from the start of 2022. Meanwhile, the Mortgage Bankers Association’s seasonally adjusted index of mortgage applications fell to its lowest level since 2000 in the week ending July 15.

Read the full article from Yahoo! Money.

Read 118 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.