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Mortgage rates inch up


Key rates moved up this past week for the first time since early June, Freddie Mac reported.

As of Thursday, the 30-year fixed rate averaged 4.53 percent, up one basis point from the prior week. The 15-year fixed rate rose three basis points to 4.02 percent, whereas five-year adjustable rate mortgages jumped 12 basis  points to 3.86 percent.

A year ago, the 30-year fixed rate averaged 4.03 percent.  

“The 10-year Treasury yield continues to hover along the same narrow range, as increased global trade tensions are causing investors to take a cautious approach,” Freddie’s Chief Economist Sam Khater said. “This in turn has kept borrowing costs at bay, which is certainly welcoming news for those looking to buy a home before the summer ends.”


 

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