Mortgage rates inched toward 7% as strength in the U.S. economy prompted investors to expect another rate hike by the Federal Reserve.
The numbers:
That was up 22 basis points from the previous week — one basis point is equal to one hundredth of a percentage point.The average rate on the 15-year mortgage increased to 6.18% from 5.97% last week. The 15-year was at 4.32% a year ago. Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging at 6.88% as of Thursday afternoon.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mortgage demand drops to the lowest level in three monthsMortgage demand continues to drop as interest rates climb higher.
Read more »
Apple rumored to announce new Mac Studio at WWDC, Mac Pro's future uncertainInstead of announcing an M2 Ultra Mac Pro, Apple is reportedly planning to announce a new M2 Max and M2 Ultra Mac Studio this WWDC.
Read more »
Mortgage rates surge to the highest level since November 2022Mortgage applications fell 3.7% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.91%.
Read more »
Today’s mortgage rates for May 31, 2023Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered.
Read more »
Mortgage rates are shooting up again, raising homeownership costsMortgage rates are climbing again, raising the cost of a home loan to its highest level in seven months.
Read more »
The Climb of Freddie DennisThe other love story in the court of King George and Queen Charlotte is the quiet, queer tale of Reynolds and Brimsley.
Read more »