Mortgage rates were more or less flat in July, rising just one basis point compared with June, according to data from the Federal Housing Finance Agency (FHFA), conservator of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Based on the loan data reported to the FHFA, the average rate on all contracted mortgage loans in July was 4.60%, up from 4.59% in June.
The FHFA estimates that average interest rate on all mortgage loans nationwide was 4.61%, up two basis points from 4.59% in June.
The average rate on a conventional, 30-year, fixed-rate mortgage was 4.77%, up from 4.76%.
The effective rate (including fees) on all loans was 4.71%, up from 4.69% in June.
The average loan amount for all loans was $321,700, down from $333,900 in June.
