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Mortgage Rates Rise for Fifth Straight Week to Highest Since 2008

Friday, Sep 23 2022
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have increased for five consecutive weeks as the Federal Reserve signals further aggressive monetary tightening. So reports CNN.

arrow 156792 640smallThe average for the 30-year fixed-rate mortgage in the week ending September 22 was 6.29%, up 27 basis points from the previous week and the highest since October 2008.

“The housing market continues to face headwinds as mortgage rates increase again this week," Freddie Mac economist Sam Khater said in a statement.

Read the full article from CNN. 

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