Estimated reading time: 0 minutes, 27 seconds

Mortgage Rates Surge to Six-Month High on “Buoyant” Economy

Sunday, Jun 04 2023
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have climbed to their highest level in six months amid what Freddie Mac’s chief economist called a “buoyant” economy. So reports Dow Jones.

arrow 156792 640smallAccording to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.79% in the week ending June 1, up from 6.57% the previous week and 5.09% a year ago.

“Mortgage rates jumped this week, as a buoyant economy has prompted the market to price-in the likelihood of another Federal Reserve rate hike," Freddie Mac’s Sam Khater said in a statement.

Read the full article from Dow Jones. 

Read 791 times
Rate this item
(0 votes)
More in this category: « FHA Proposes Mortgage Payment Cuts to Offset Higher Rates Bodnar of MMG: Concerns Underneath the Hood of the Jobs Report »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline