Global Brokerage Chairman Cushman & Wakefield Bruce Mosler discusses President Donald Trump's impact on commercial real estate and how Americans handle 7% mortgage fees.
Mortgage fees It moved slightly lower this week, but the long-term rate remains rising in the top 6% range.
Freddie Mac's latest primary mortgage market research released on Thursday shows that the average benchmark rate is 30-year fixed home loan It fell to 6.89% from 6.95% reading last week. The average rate for a 30-year loan was 6.64% a year ago.
The rise in mortgage rates is reducing demand in the housing market. (Justin Sullivan/Getty Images/Getty Images)
“Mortgage rates remained stable last month, and incoming data suggests that the economy remains on a solid footing,” said Sam Carter, chief economist at Freddie Mac. “While the prices are higher compared to last year, the last two weeks of the purchasing application are slightly ahead of what we saw a year ago, indicating potential demand in the market.”
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The average rate for a 15-year fixed mortgage fell to 6.05% from 6.12% last week. A year ago, the average percentage of fixed notes in 15 years was 5.9%.
