Mortgage rate hits nearly one-year high

Mortgage rate hits nearly one-year high

The average 30-year fixed mortgage rate climbed to 6.58% this week, its highest level in nearly a year. The increase came as conflict between the United States and Iran drove oil prices higher, adding fresh pressure to borrowing costs across the U.S. housing market. The move could make home purchases more expensive during a period when many buyers already face affordability problems. It may also discourage homeowners with lower existing rates fr…

Why Mortgage Rates Are Near a One-Year High

While they aren’t at their absolute worst, mortgage rates remain very close to their one-year high. They’re about .125% below their 52-week highs, which were seen in late July before we got some favorable economic data. However, they remain stubbornly high with no real relief in sight. Let’s break down how they got here and… Read More »Why Mortgage Rates Are Near a One-Year High The post Why Mortgage Rates Are Near a One-Year High appeared first…