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US average long-term mortgage rates back under 7%, for now

Por: ABC News Business November 03, 2022

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WASHINGTON -- The average long-term U.S. mortgage rate dipped back under 7% this week, one day after the Federal Reserve raised its benchmark borrowing rate to its highest level in 15 years as it tries to squelch four-decade high inflation.Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate fell to 6.95% from 7.08% last week. The rate was 3.09% last year at this time.The rate for a 15-year mortgage, often used... + full article



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