US Mortgage Rate Climbs to Fresh Multi-Decade High of 7.67%
- Benchmark home-loan rate has risen for five straight weeks
- Housing-industry lobby groups urged Fed to halt rate hikes
A sign outside a home for sale in Atlanta, Georgia, US.
Photographer: Elijah Nouvelage/BloombergThis article is for subscribers only.
US mortgage rates advanced last week to the highest level since 2000, keeping a lid on home-buying activity.
The contract rate on a 30-year fixed mortgage rose by 14 basis points to 7.67% in the week ended Oct. 6, according to Mortgage Bankers Association data out Wednesday. That marked the fifth straight weekly increase.