US mortgage rates surged this week, rising to their highest level in 21 years. The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.13%. Rates have been above 6.5% since the … Read more
Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely to climb further as the Federal Reserve has all but guaranteed more rate increases in its battle to tamp down persistent inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate … Read more
Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate climbed to 6.70% from 6.29% last week. By contrast, … Read more