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.

Estimated reading time: 0 minutes, 25 seconds

Mortgage Rates Rise to Highest Since December 2000

Saturday, Oct 07 2023
Lending
Written by  The Mortgage Leader

Pain for homebuyers has continued as U.S. long-term mortgage rates have posted their fourth straight weekly increase, climbing to a nearly 23-year high. So reports Bloomberg.

Freddie Mac 150x150According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.49% as of October 5, up from 7.31% the previous week and the highest level since December 2000.

Sam Khater, Freddie Mac's chief economist, said in a statement that inflation, the job market and uncertainty about the Federal Reserve led to “the highest mortgage rates in a generation.”

Read the full article from Bloomberg.

Read 1795 times
Rate this item
(0 votes)
More in this category: « September Mortgage Rate Locks Fall 13.29%, MCT Says HUD Awards $160M to Senior Housing Nonprofits »

FOLLOW US