The average rate for 30-year fixed-rate mortgages

The average rate for 30-year fixed-rate mortgages rose to 6.32% as of February 16, 2023, compared to 6.12% the week before, according to a survey by mortgage lenders Freddie Mack. 15-year fixed interest rate mortgage averaged 5.51%, above 5.25% last week. ” Mortgage rates rose for the second week in a row,” said Sam Haber, Freddie Mack’s chief economist. “The economy is showing signs of resilience, largely due to consumer spending, and growth. Overall housing costs are also increasing, affecting persistent inflation.” source: Freddie Mac