U.S. long-term mortgage rates have surged to their highest level in more than two decades as the Federal Reserve weighs whether to continue raising interest rates. So reports ABC News.
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.09% over the week ending on August 17, up from 6.96% a week earlier.
That’s the highest since a reading of 7.18% in March 2002.
Read the full article from ABC News.