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Published 13 days ago

Mortgage rates top 7 percent for first time in 2024

Summary by The Hill
Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie Mac.  The average 30-year fixed-rate mortgage rose to 7.1 percent this week, up from 6.88 percent the week before.  “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year,” said Sam Khater, Freddie Mac’s chief economist, in a statement.   “Last…

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