Mortgage rates tick higher: 30-year, fixed home loan is at 6.90%; 15-year at 6.25%

Published August 3, 2023 11:06 AM

The Associated Press

WASHINGTON (AP) — The average long-term U.S. mortgage rate rose again this week, bad news for Americans seeking to upgrade or buy their first home. The average rate on the 30-year home mortgage rate ticked up to 6.90% this week from 6.81% a week ago. A year ago, the benchmark home loan rate stood at 4.99%, mortgage buyer Freddie Mac reported Thursday. The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, climbed to 6.25% from 6.11% last week. A year ago, it was 4.26%.

Article Topic Follows: AP-National

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