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Mortgage rates reach highest level in 20 years

Por: The Hill Politics October 28, 2022

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Surging mortgage rates reached another high this week, eclipsing 7 percent for the first time in 20 years amid the U.S. Federal Reserve’s ongoing battle with inflation. The 30-year-fixed rate mortgage climbed to 7.08 percent, up from 6.94 percent a week earlier, according to Freddie Mac. At the same time a year ago, 30-year fixed rate mortgages averaged 3.14 percent based on Freddie Mac data. Yet the mortgage rate increases have not... + full article



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