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.

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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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