Mortgage Rates Climb for the 5th Week Straight

Mortgage Rates on a rapid climb over the past few weeks

Mortgage Rates on a rapid climb over the past few weeks

San Diego home buyers will be paying more on their new mortgages. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.91% in the week ending June 6, up from 3.81% the prior week. That’s the fifth week in a row of gains. This comes at a time when the Federal Reserve might be slowing the rate of bond purchases. The 15-year fixed-rate mortgage rose above 3% for the first time in over a year, climbing to 3.03% from 2.98%.

 

 

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