Mortgage rates climb for third week on threat of sticky inflation

Bullseye American Ingenuity Fund Portfolio Manager Adam Johnson and Payne Capital Management President Ryan Payne discuss their outlooks for the housing market, retail industry, and prospects of a recession.rose to 6.5% on Thursday from 6.32% last week, according to mortgage buyer Freddie Mac. A year ago, the average rate was 3.89%.

The 15-year fixed-rate mortgage averaged 5.76%, up from last week when it averaged 5.51%. A year ago at this time, the 15-year FRM averaged 3.14%. Homes in Rocklin, Calif., on Dec. 6, 2022. A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin.

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