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.

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Mortgage Rates Dip Back Below 7%

Friday, Nov 04 2022
Lending
Written by  The Mortgage Leader

After topping 7% for the first time since 2002, U.S. long-term mortgage rates have fallen back below that mark. So reports CNN.

arrow 98577 1280According to Freddie Mac, the average for a 30-year fixed-rate mortgage in the week ending November 3 was 6.95%, a decline of 13 basis points from the previous week.

Freddie Mac economist Sam Khater said that the Federal Reserve’s November 2 announcement of its sixth interest rate hike this year “will certainly inject additional lead into the heels of the housing market.”

Read the full article from CNN. 

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