US EditionUS mortgage rates climb to 7.31%, hitting their highest level in nearly 23 years
- Mortgage interest rates have reached their highest level since 2000, resulting in a significant decline in mortgage demand, which is now at a 27-year low.
- The increase in interest rates has led to a rise in the average contract interest rate for 30-year fixed-rate mortgages, causing borrowers to face challenges refinancing their homes.
- Despite the historic low supply of homes for sale and the rising interest rates, the imbalance between supply and demand is driving home prices higher, making it even more difficult for potential buyers to afford a home.
33 Articles
33 Articles
Average US mortgage rate hits 7.31%, highest in nearly 23 years
LOS ANGELES (AP) — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market.
The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%
LOS ANGELES (AP) — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly less affordable housing market. The…
The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%
LOS ANGELES (AP) — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market. Read more...
Mortgage rates climb further, near 23-year high
The average rate on the benchmark 30-year fixed mortgage surged again this week, hitting the highest level in nearly 23 years. Freddie Mac's latest Primary Mortgage Market Survey released Thursday shows that the average rate for a 30-year fixed note climbed to 7.31%, up from 7.19% last week, and from 6.7% a year ago. The rate on a 15-year mortgage also rose, averaging 6.72% after coming in last week at 6.54%. One year ago, the rate on a 15-year …
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