MCLEAN, Va.-- The 30-year fixed-rate mortgage averaged 6.53% this past week, Freddie Mac reported.
“The 30-year fixed-rate mortgage averaged 6.53% this week,” said Sam Khater, Freddie Mac’s chief economist. “Pending home sales have increased three months in a row, indicating there’s latent demand and homebuyers are ready to jump back into the market if mortgage rates decline.”
The 30-year FRM averaged 6.53% as of May 28, up from last week when it averaged 6.51%. A year ago at this time, the 30-year FRM averaged 6.89%. The 15-year FRM averaged 5.87%, up from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 6.03%, Freddie Mac said.