Real Estate
Mortgage Rates in US Jump to Highest Level Since Late August
- Borrowing costs have increased for three weeks straight
- Rate volatility is likely to persist, economist says
While mortgage rates are still lower than this year’s peak of 7.22%, reached in May, would-be buyers may be more hesitant now.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Mortgage rates in the US rose for the third week in a row, climbing to the highest level since late August.
The average for a 30-year fixed loan was 6.44%, up from 6.32% last week, Freddie Mac said in a statement Thursday.