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Average Mortgage Rates Rise After 6 Weeks of Declines

Started by Epoch-Times-Bot, Dec 29, 2022, 11:30 PM

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Epoch-Times-Bot

Dec 29, 2022, 11:30 PM
Average Mortgage Rates Rise After 6 Weeks of Declines

WASHINGTON—The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate increased to 6.42 percent from 6.27 percent last week. That is more than double the year-ago average rate of 3.11 percent.
The long-term rate reached 7.08 percent in late October and again in early November as the Federal Reserve has continued to crank up its key lending rate this year in an effort to cool the economy and tame inflation....

Source: Average Mortgage Rates Rise After 6 Weeks of Declines

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Aug 28, 2024, 06:49 AM
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