Economics
Mortgage Rates in the US Rise to 5.81%, Highest Since 2008
- Soaring loan costs are fueling a slowdown in housing market
- More sellers are cutting their prices as home purchases slip
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Mortgage rates in the US climbed again, hovering near a 14-year high.
The average for a 30-year loan was 5.81%, up from 5.78% last week, Freddie Mac said in a statement Thursday. Rates diverged from the decline in yields for 10-year Treasuries. The latest increase for 30-year loans follows the biggest one-week jump since 1987.