The rate on the 30-year mortgage in the US from Freddie Mac rose to 6.72% in the current week from 6.60% last week. That is still below the high from November which reached 6.84%.
The high for the year was 7.22% reached on May 2, 2024.
In other housing data today, existing home sales rose to 4.15M annualized pace from 3.96M in the prior month. Although a welcome relief from the lows of last month, the sales pace remains more to the lows of the sales trends going back in time.
