The average 30-year fixed-rate mortgage stood at 6.3 percent this week, down from last week when it averaged 6.34 percent, according to Freddie Mac’s Primary Mortgage Market Survey. Last year at this time, the 30-year average was 5.34 percent.
“The rise in mortgage rates stalled this week primarily because of rising tensions in other parts of the world, causing foreign investors to flee to the security of U.S. treasuries,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Consequently, yields remained mainly unchanged from last week and so did long-term mortgage rates.”
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