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Mortgage Rates Rise Back Above the 3% Mark Again

Friday, Oct 15 2021
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have once again climbed above the 3% level, a sign that historically low rates won’t stick around forever. So reports CNN.

arrow 2790272 640 400x400The 30-year fixed-rate mortgage averaged 3.05% in the week ending October 14, according to Freddie Mac, its highest mark since April.

Freddie Mac’s chief economist, Sam Khater, said that rates are likely to slowly climb as the Federal Reserve responds to mounting inflation amid the lingering effects of COVID-19.

Read the full article from CNN.

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