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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. 

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