Freddie Mac: An uptick in consumer spending spurs growth in this week’s mortgage rates

This week, the 30-year, fixed-rate mortgage averaged 3.81%, moderately rising from last week’s 3.75%, according to the Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates.