According to Freddie Mac, the 30-year fixed-rate mortgage averaged 5% in the week ending April 14, up from 4.72% the prior week.
That’s the first time the rate has hit 5% since February 2011.
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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.
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Mortgage Rates Hit 5% for First Time Since 2011
Mortgage rates have reached another milestone in their recent rise from historic lows, with the benchmark mortgage product touching 5% for the first time in more than a decade. So reports MarketWatch.
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