The 30-year mortgage rate averaged 7.57% as of October 12, up from 7.49% a week earlier and 6.92% a year before, according to Freddie Mac.
The benchmark home loan has averaged above 6% since September 2022.
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Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.
Estimated reading time: 0 minutes, 18 seconds
Mortgage Rates, at Post-2000 Highs, Rise for Fifth Straight Week
The average U.S. long-term mortgage rate has increased for a fifth consecutive week, remaining at the highest since December 1, 2000. So reports The Associated Press.
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