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Mortgage Rates Rise to 10-Week High of 6.57%

Friday, May 26 2023
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have climbed to their highest level since mid-March. So reports ABC News.

arrow 2790272 640According to Freddie Mac, the benchmark 30-year fixed-rate mortgage averaged 6.57% in the week ending May 25, up from 6.39% the week before and 5.10% a year earlier.

Sam Khater, Freddie Mac’s chief economist, said that the U.S. economy’s ongoing toughness and lingering debt ceiling concerns combined to drive rates higher.

Read the full article from ABC News. 

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