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Mortgage Rates Rise for Fifth Week, Near 7%

Saturday, Mar 11 2023
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have posted a fifth consecutive weekly increase, to their highest point since topping 7% last fall. So reports the Associated Press.

arrow 156792 640smallAccording to Freddie Mac, the 30-year mortgage rate averaged 6.73% in the week ending March 9, up from 6.65% last week and 3.85% a year earlier.

Uncertainty about inflation and the Federal Reserve’s plans for interest rates have persisted as the housing market heads toward its spring buying season.

Read the full article from Associated Press.

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