Mortgage rates continued to trend up this week and dampen homebuyer momentum.
The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week’s figure of 6.90%, according to Freddie Mac’s Primary Mortgage Market Survey released on Thursday.
Meanwhile, the 15-year fixed rate averaged 6.26% this week, down from 6.29% during the prior week. And HousingWire’s Mortgage Rates Center showed that Polly’s average 30-year fixed rate for conventional loans was 7.23% on Thursday, up from 7.19% at the same time last week.
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