U.S. Mortgage Rates Make May Jump (See Where They Stand)

U.S. mortgage rates make May jump (See where they stand)

Freddie Mac reports the 30-year fixed mortgage rate averaged 6.81% for the week ending May 15 — up from 6.76% last week.

Weekly mortgage rates edge higher in the heart of homebuying season

Mortgage rates climbed for the second week in a row, denting home affordability in the middle of homebuying season.The average rate on the 30-year fixed-rate mortgage went up seven basis points to 7.01% in the week ending May 15, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.