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Economy

Mortgage rates reach highest since August 2007

The 30-year fixed-rate mortgage (FRM) averaged 6.29 percent

alanharder.ca, CC BY 2.0 <https://creativecommons.org/licenses/by/2.0>, via Wikimedia Commons

By Jay Spoehel

FOXBusiness

Mortgage rates moved higher again this week, with the 30-year fixed-rate averaging 6.29%, up from 6.02% last week, Freddie Mac said. A year ago at this time, the 30-year FRM averaged 2.88%. That’s the highest since August 2007, a year before a crash in the housing market triggered the Great Recession.

The 15-year fixed-rate mortgage averaged 5.44%. Last week they averaged 5.21%. A year ago at this time, the 15-year FRM was 2.15%.

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https://www.foxbusiness.com/economy/mortgage-rates-reach-highest-since-august-2007

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