‘The Big Money Show’ discusses mortgage rates, property taxes and the struggle home sellers are facing.
Mortgage rates ticked higher to 6% this week, mortgage buyer Freddie Mac said Thursday.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6% from last week’s reading of 5.98%.
The average rate on a 30-year loan was 6.63% a year ago.
“In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners,” said Sam Khater, Freddie Mac’s chief economist. “As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.”
RENT BECOMING MORE AFFORDABLE FOR MANY AMERICANS AS MARKET STABILIZES
