Six Week Streak for Mortgage Rates
For the sixth consecutive week, fixed-mortgage rates climbed higher. According to the latest results of Freddie Mac’s Primary Mortgage Market Survey, the 30-year, fixed-rate mortgage has increased over half a percentage point since a steady uptick began last month. This news follows a positive employment report for May with the economy adding 175,000 new jobs.
Despite the streak, mortgage rates are coming off their all-time record low and buying is 41 percent cheaper than renting nationally.
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