Mary Christine Joy,
champpixs
- Mortgage rates increased as consumer prices rose more than expected, leading to a potentially slower spring homebuying season, according to the Freddie Mac Primary Mortgage Survey.
- 30-year fixed-rate mortgages averaged 6.77% as of Feb. 15, up from last week when they averaged 6.64% and 6.32% in the year-ago period.
- 15-year fixed-rate mortgages averaged 6.12%, higher than 5.90% last week and 5.51% a week ago.
- “On the heels of consumer prices rising more than expected, mortgage rates increased this week,” Sam Khater, Freddie Mac’s chief economist, said.
- “The economy has been performing well so far this year and rates may stay higher for longer, potentially slowing the spring homebuying season,” Khater added.