Mortgage Rates in US Increase for First Time in Three Weeks
- Inflation, economic strength is helping to keep rates high
- Average for a 30-year loan has been above 7% for five weeks
Houses in Las Vegas, Nevada.
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
US mortgage rates rose for the first time since late August, ratcheting up the pressure on borrowers.
The average for a 30-year, fixed loan climbed to 7.18% from 7.12% a week earlier, Freddie Mac said in a statement Thursday.