Mortgage Rates in the US Jump to 7.23%, Highest Since May 2001
- Homebuyers face the most-unaffordable market in decades
- ‘Woefully low’ supply of listings keeps purchase prices high
The average for a 30-year, fixed loan was 7.23%.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Mortgage rates in the US jumped to a 22-year high, further squeezing would-be homebuyers already struggling with affordability.
The average for a 30-year, fixed loan was 7.23%, the highest since May 2001 and up from 7.09% last week, Freddie Mac said in a statement Thursday.