Mortgage rates approach 3-year high as new applications plunge
First reported 1 Oct, 19:28 UTCUpdated 3d ago4 sources
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Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. Why it matters: Housing sales were already slow due to a lack of inventory and elevated rates, creating a risk that the market could further its freeze. Zoom in: The weekly average 30-year fixed mortgage…
Excerpt from Axios
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The average long-term U.S. mortgage rate remained above 7% this week, reaching its highest level in nearly three years.
The benchmark 30-year fixed-rate mortgage rose to 7.28%, mortgage buyer Freddie Mac said Thursday. A year ago, the average rate was 6.34%.
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- Average Long-Term U.S. Mortgage Rate Churns Upward To Its Highest Level In Nearly 3 Years At 7.28% (opens HuffPost in a new tab)
The average long-term U.S. mortgage rate remained above 7% this week, reaching its highest level in nearly three years.
- Average long-term U.S. mortgage hits highest level in nearly 3 years (opens PBS NewsHour in a new tab)
The benchmark 30-year fixed-rate mortgage rose to 7.28%, mortgage buyer Freddie Mac said Thursday. A year ago, the average rate was 6.34%.
- Mortgage rates surge once again (opens The Hill in a new tab)
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Mortgage rates spike again to 7.28 percent The average 30-year fixed mortgage rate rose to 7.28 percent this week, worsening conditions for prospective homebuyers. © Keith Srakocic, Associated Press The…
- Mortgage rates approach 3-year high as new applications plunge (opens Axios in a new tab)
Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. Why it matters: Housing sales were already slow due to a lack of inventory and elevated rates, creating a risk that the market could further its freeze. Zoom in: The weekly average 30-year fixed mortgage…
