Mortgage rates rise slightly

The average 30-year fixed-rate mortgage rose slightly this week to 5.82 percent, up from 5.81 percent last week, according to Freddie Mac’s Primary Mortgage Market Survey. Last year at this time, the 30-year average was 6.28 percent.
“Mortgage rates were mostly unchanged this week, amid conflicting economic reports as to the strength of the economy,” said Frank Nothaft, Freddie Mac vice president and chief economist. “July home sales fell from their record rate but remain strong by historical standards. Our housing outlook remains positive, and forecasts only a gradual rise in mortgage rates in the next few months, indicating another strong year for the housing sector.”

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