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Mortgage Rates Dip But Look to Be Headed Higher

Average 30-year mortgage 4.31%

July 25, 2013

By SAM GARCIA Mortgage Daily


portrait of Sam Garcia

Interest rates on home loans were lower for the second consecutive week, but the outlook is for an ongoing increase.

Freddie Mac reported in its Primary Mortgage Market Survey for the week ended July 25 that 30-year fixed-rate mortgages averaged 4.31 percent.

Rates fell from 4.37 percent the prior week and were down for the second week in a row. But the 30 year was higher than 3.49 percent in the same week last year.


Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Before that, he worked in mortgage lending for two decades.

e-mail:
SamGarcia@MortgageDaily.com


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