Mortgage Rates Friday, June 23: Only a Notch Higher

Mortgage rates for 30- and 15-year fixed loans ticked higher, while 5/1 ARMs were unchanged, according to a NerdWallet survey of current mortgage rates published by national lenders Friday morning.

New home sales were up 2.9% month-over-month in May, according to a just-released report by the Department of Commerce. Continued low mortgage rates are fueling a brisk real estate market so far in 2017, but there’s a downside for buyers.

“The bottom line is that there are fewer homes on the market, and they are selling faster,” Joseph Kirchner, senior economist for Realtor.com, said in a release. “This is a strong market for sellers, which is good news for people who are downsizing or settling an estate. It’s bad news for millennials, first-time buyers or second-time buyers looking to upsize for that baby on the way.”

MORTGAGE RATES TODAY, FRIDAY, JUNE 23:

(Change from 6/22)
30-year fixed: 4.03% APR (+0.01)
15-year fixed: 3.42% APR (+0.01)
5/1 ARM: 3.86% APR (NC)

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NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: [email protected] Twitter: @halmbundrick.

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The article Mortgage Rates Friday, June 23: Only a Notch Higher originally appeared on NerdWallet.

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