Reported 17 days ago
Mortgage rates have increased for the sixth consecutive week, now averaging 6.79% for a 30-year fixed mortgage, reflecting rising Treasury yields amid heightened confidence in former President Trump's election victory and potential inflationary policies. Housing activity has also cooled, with a 5% drop in purchase applications and a 19% decrease in refinancing, as experts anticipate rates to remain elevated above 6% in the coming year.
Source: YAHOO