Reported 6 months ago
The average rate on a 30-year mortgage has moved back above 7% this week, rising to 7.03% from 6.94% last week according to Freddie Mac. This increase marks the end of a three-week pullback, with higher rates adding significant costs for borrowers. The rise in mortgage rates is influenced by factors such as the Federal Reserve's interest rate policy and movements in the 10-year Treasury yield.
Source: YAHOO