The 30-year average mortgage rate rose to 7.19% this week from 7.18% the week before.
Mortgage rates increased this week, remaining over 7% for the sixth consecutive week.Freddie Mac
," Orphe Divounguy, Zillow's senior economist, said in a statement, "As if buyers didn't have enough problems, volatility in rates this year has made it difficult to plan and budget for a mortgage payment." While fixed mortgage rates don't directly track the Fed's rate, they do follow the yield on the 10-year Treasury, which has risen alongside the central bank's rate hikes. That means mortgage rates could increase further.
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