Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market.
FILE - A"sold" is posted outside a single family home in a residential neighborhood, in Glenside, Pa., Wednesday, Aug. 4, 2021. Average long-term U.S. mortgage rates jumped again this week, Thursday, Sept. 8, 2022, to their highest level in almost 14 years, certain to keep even more potential buyers out of a housing market thats cooled considerably since the Federal Reserve began jacking up its benchmark borrowing rate. .
The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, rose to 5.16% from 4.98% last week. That's the first time the 15-year rate has been above 5% since 2009, as the real estate market went into a years-long slump. Last year at this time the rate was 2.19%.
Recently, faster inflation and strong U.S. economic growth have sent the 10-year Treasury rate up sharply, to 3.27%.
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Long-term mortgage rates now at highest point since 2008Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market .
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Long-term mortgage rates now at highest point since 2008Average long-term U.S. mortgage rates jumped again this week to their highest level in almost 14 years, certain to keep even more potential buyers out of a housing market that’s cooled considerably since the Federal Reserve began jacking up its benchmark borrowing rate.
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Mortgage rates hit 5.89% — highest level since the 2008 housing crashMORTGAGE RATES CLIMB: Borrowing costs for a conventional home loan have more than doubled over the last year. onyourside mortgagerates alabamanewsnetwork
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Britain's Queen Elizabeth II dies; mortgage rates at highest point since 2008; cheaper electric vehicles coming | Hot off the Wire podcast🎧 Queen Elizabeth II, Britain’s longest-reigning monarch, died. More on that story, the death of former CNN anchor Bernard Shaw, mortgage rates and electric vehicles on our daily news podcast.
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Britain's Queen Elizabeth II dies; mortgage rates at highest point since 2008; cheaper electric vehicles coming | Hot off the Wire podcast🎧 Queen Elizabeth II, Britain’s longest-reigning monarch, died. More on that story, the death of former CNN anchor Bernard Shaw, mortgage rates and electric vehicles on our daily news podcast.
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