US mortgage rates jumped last week to the highest level since 2000, taking a toll on already depressed home-purchase applications.
The contract rate on a 30-year fixed mortgage rose 10 basis points to 7.41 per cent in the week ended September 22, according to Mortgage Bankers Association data out Wednesday. As a result, the index of home-purchase applications fell to 144.8, one of the lowest readings in decades.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: