Estimated reading time: 0 minutes, 23 seconds

Mortgage Rates Climb to Highest Since April Amid Inflation

Monday, Oct 25 2021
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates are on the rebound after drifting near historic lows for much of 2022. So reports the Associated Press.

arrow 156792 640smallAccording to Freddie Mac, the 30-year mortgage rate averaged 3.09% in the week ending October 21, the highest since April.

Bankrate chief financial analyst Greg McBride said the increase was due to the Federal Reserve stopping its ultra-loose monetary policy and that inflation could continue to drive rates higher.

Read the full article from the Associated Press. 

Read 1613 times
Rate this item
(0 votes)
More in this category: « Rocket Pro TPO Doubles Down on its Commitment to Help Brokers Drive Business Weekly Mortgage Demand Slides 6% as Rates Rise »

FOLLOW US