According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.19% as of September 21, up from 7.18% the previous week and 6.29% a year earlier.
“Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect, which could have an impact on the already low housing supply," Sam Khater, Freddie Mac’s chief economist, said in a statement.
