U.S. 30-year mortgage rates hit 6.85%, highest since mid-July, complicating homeownership.

The average 30-year mortgage rate in the U.S. climbed to 6.85%, its highest since mid-July, according to Freddie Mac. This marks the second consecutive week of increases, attributed to a rise in bond yields. Higher rates and rising home prices are making homeownership more challenging for many buyers, contributing to a slump in the housing market. Economists predict rates will stay above 6% next year, potentially reaching 6.8%.

3 months ago
44 Articles

Further Reading