An increase in fixed rates on residential loans this past week is likely to be followed by little movement in mortgage rates over the upcoming week.

In the Primary Mortgage Market Survey from Freddie Mac for the week that ended on July 13, thirty-year fixed rates averaged 4.03 percent.

Long-term rates worsened compared to the previous week, when the average was 3.96 percent. They were also higher than 3.42 percent in the same week last year.

Source: Mortgage Daily