Average 30-Year US Mortgage Rate Rises to 6.49%, Pushing up Homebuyers’ Borrowing Costs
Higher oil prices and Iran-related tensions pushed long-term bond yields up, while Freddie Mac said the 30-year rate is still below last year’s 6.72%.
- The average 30-year fixed mortgage rate in the U.S. rose to 6.49% this week from 6.43% last week, pushing up borrowing costs for potential homebuyers.
- When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, reducing their purchasing power.
- Mortgage rates are influenced by factors like the Federal Reserve's interest rate policy decisions and bond market investors' expectations for the economy and inflation.
23 Articles
23 Articles
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