News release: “The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less increased 19 basis points to 5.31 percent in July. The average interest rate on 15-year, fixed-rate loans of $417,000 or less increased 9 basis points to 4.89 percent in July. These rates are calculated from the FHFA’s Monthly Interest Rate Survey (MIRS) of purchasemoney mortgages. These results reflect loans closed during the July 27-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late-June.”