Average interest rate for 30-year fixed-rate mortgage hits 6% for first time in 14 years

hit the 6% mark for the first time in 14 years, according to a Mortgage Bankers Association survey released Wednesday.most popular U.S.

home loanLast week's average rate of 6% marks the first time since 2008 that it has hit that figure and is "essentially double what it was a year ago," Joel Kan, the associate vice president of economic and industry forecasting at MBA, said in a press release.The average interest rates for other common mortgage types also increased. The average rate for 30-year fixed jumbo mortgages rose to 5.56% from 5.

About time money starting costing again

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Liberals

How about reporting on savings rates? What about CDs? The war on savers is over.

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Mortgage Demand From Homebuyers Falls 29% Since Last Year, as Interest Rates Surge Past 6%Rates are surging due in large part to the Fed’s hawkish inflation policies, and that’s weighing on mortgage demand.
Source: nbcsandiego - 🏆 524. / 51 Read more »

US mortgage interest rates top 6% for first time since 2008The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now more than double the level it was one year ago, Mortgage Bankers Association data showed on Wednesday. The interest rate needs to get even higher in order to bring house prices down to affordable levels.
Source: KSLcom - 🏆 549. / 51 Read more »