Freddie Mac: Mortgage rates experience the highest weekly uptick since last October

This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.73%. That’s seventeen basis points above last week’s 3.56% but almost a percentage point lower than the 4.65% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said despite the rise in mortgage rates, economic data improved this week – particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction.