Mortgage rates reach 6.72%, reflecting a steady increase

Freddie Mac reports the 30-year fixed-rate mortgage (FRM) averaged 6.72% this week, a rise from last week’s 6.60% and marginally higher than the 6.67% recorded a year ago. Similarly, the 15-year FRM increased to 5.92% from last week’s 5.84%, but it remains slightly below last year’s 5.95%. According to Freddie Mac’s Chief Economist Sam Khater, homebuyers are beginning to adapt to these rates, contributing to gradual increases in purchasing activity.