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High mortgage rates dampen home sales

Por: CBS News Nation November 04, 2022

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Baldwin, New York — It's not a great time for home sellers, with the Federal Reserve to help combat inflation, driving up the cost of borrowing money. The average for a 30-year fixed mortgage rate briefly before dipping to 6.95% this week, according to Freddie Mac, what it was a year ago. That means monthly payments on a $400,000 loan would be more than $2,600 — nearly $950 more compared to the same loan last year. Terri Arena... + full article



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