BUSINESS NEWS

Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis



Mortgage rates topped 6% this week, their highest level since 2008, giving a jolt to home buyers who last year were paying less than half that.

The average rate on a 30-year fixed mortgage climbed to 6.02% this week, up from 5.89% last week and 2.86% a year ago, according to a survey of lenders released Thursday by mortgage giant Freddie Mac. The last time rates were this high was in the heart of the financial crisis almost 14 years ago, when the U.S. was deep in recession.



Source link

Leave a Reply

Your email address will not be published.

close