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Freddie Mac: Mortgage rates reach highest level since May

September 20, 2018 / Alcynna Lloyd

Mortgage rates inched forward for the fourth consecutive week, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said the 30-year fixed-rate mortgage increased once again to its highest level since May. According to the Primary Mortgage Market survey, the 30-year fixed-rate mortgage averaged 4.65% for the week ending Sept. 20, 2018, rising from 4.6% last week, and still remains significantly higher than last year’s rate of 3.83%.