Mortgage rate edges up in US housing market

20th July, 2019 11:54:22 printer

WASHINGTON: Mortgage rates rebounded in the United States last week, the U.S. Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, said on Thursday.

For the week ending July 18, 30-year fixed-rate mortgage (FRM) in the United States rose to 3.81 percent from previous week's 3.75 percent, reports Xinhua.

The 30-year FRM, the benchmark mortgage rate, was significantly lower than the averaged rate of 4.52 percent in the same period last year.

Freddie Mac noted that the 15-year FRM this week rose to 3.23 percent, which was higher than previous week's reading of 3.22 percent.