Over the past week, there was little change in interest rates on home loans. During the next week, more of the same is likely. Recently rising rates have helped the Federal Home Loan Banks’ earnings.
Conventional mortgages with conforming loan amounts used to finance the purchase of a single-family property had an average 30-year fixed rate of 4.77 percent in July.
The monthly average was up just a single basis point versus the preceding month. But long-term mortgage rates have significantly increased versus July 2017, when they averaged 4.14 percent.
Source: Mortgage Daily