Phil Blancato advises investors to avoid emotional decisions in portfolios
Osac Chief Market Strategist Phil Blancato advises investors to strip emotions from their investment decisions.
Mortgage rates rose this week to the highest level in a year, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.66% from last week's reading of 6.58%.
The average rate on a 30-year loan was 6.72% a year ago.
The average rate on the benchmark 30-year fixed mortgage climbed to 6.66% this week, according to Freddie Mac. (Daniel Acker/Bloomberg via Getty Images)
"The housing market continues to benefit from more available inventory, providing prospective homebuyers with additional options and helping support buyer activity as mortgage rates fluctuate," said Sam Khater, Freddie Mac's chief economist.
The average rate on a 15-year fixed mortgage rose to 6.04% from last week's reading of 5.96%.
