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John McClintock Team

Mortgage Rates Rise Above 3%

For the first time in 10 weeks, mortgage rates inched above 3%—and the era of 2% rates may be over. “As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” said Sam Khater, Freddie Mac’s chief economist. “For those homeowners who have not yet refinanced—and there remain many borrowers who could benefit from doing so—now is the time.”

The National Association of Realtors® has predicted that mortgage rates will average 3.2% by the end of the year.

Freddie Mac reports the following national averages with mortgage rates for the week ending June 24:

Source: National Association of Realtors, Realtor Magazine

Are you considering selling and/or purchasing a Bucks, Montgomery, Delaware or Mercer County home? More than ever, you need expert, professional representation. Before you list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on dealing with bids, realistic prices and precise timing.

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Information is deemed reliable but not guaranteed.