Mortgage Rates in US Increase for Fifth Week, Hitting 7.22%
- Buyers aren’t likely to see relief soon, economist says
- Prices are holding up in major metro areas across the US
Homes in Issaquah, Washington. High borrowing costs are squeezing buyers trying to crack into the market during one of its seasonally busiest times.
Photographer: David Ryder/BloombergThis article is for subscribers only.
Mortgage rates in the US climbed for a fifth week, ratcheting up the pressure on homebuyers.
The average for a 30-year, fixed loan was 7.22%, up from 7.17% last week, Freddie Mac said in a statement Thursday.