Continuing a nearly two-month climb, the average 30-year fixed-rate mortgage was 6.12 percent this week, up from last week’s average of 6.01 percent, according to Freddie Mac’s Primary Mortgage Market Survey.
“A steady drip of good economic news coupled with the Federal Reserve’s change of language in their statement this week reinforced market expectations that the Fed may raise rates sooner than expected,” said Amy Crews Cutts, Freddie Mac deputy chief economist. “That expectation carried over into the housing sector, causing a rise in mortgage rates for the seventh week in a row.”
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