Mortgage rates inch up but stay below 7% mark

[Mortgage contract for the purchase or sale of an apartment house or real estate. Work desk with contract coins model house calculator and pen]
MarianVejcik

Mortgage rates inched up this week but stayed within a narrow range under 7%, according to [https://seekingalpha.com/pr/20170033-mortgage-rates-continue-to-move-up] the latest Freddie Mac Primary Mortgage Survey.

30-year fixed-rate mortgages averaged 6.75% as of July 17, up from 6.72% last week but lower than 6.77% in the year-ago period.

15-year fixed-rate mortgages averaged 5.92%, higher than 5.86% a week ago and below the year-ago level of 6.05%.

"While overall affordability headwinds persist, rate stability coupled with moderately rising inventory may sway prospective buyers to act," noted Sam Khater, Freddie Mac's chief economist.

Below are the mortgage rate movements in the past few months:

[https://www.freddiemac.com/pmms]
Source: Freddie Mac

MORE RELATED TO MORTGAGES

* Homebuilder sentiment ticks up one point in July, as expected [https://seekingalpha.com/news/4468442-homebuilder-sentiment-ticks-up-one-point-in-july-as-expected]
* U.S. Treasury yields slide, dollar index plunges amid jitters over Fed independence [https://seekingalpha.com/news/4467991-u-s-treasury-yields-slide-dollar-index-plunges-amid-jitters-over-fed-independence]
* Mortgage applications dip as higher Treasury yields lead to rise in mortgage rates [https://seekingalpha.com/news/4467785-mortgage-applications-dip-by-10]
* Mortgage rates edge up after five straight weeks of declines [https://seekingalpha.com/news/4466557-mortgage-rates-edge-up-after-five-straight-weeks-of-declines]