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Mortgage rates hit highest level in over a year

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Mortgage rates hit highest level in over a year

Freddie Mac reported the average 30-year fixed mortgage rate rose to 6.69% this week, up from 6.66% last week (a +3 bps weekly increase). Higher mortgage rates can weigh on housing affordability and demand, keeping a cautious tone around real-estate demand.

Analysis

Freddie Mac reported the average 30-year fixed mortgage rate rose to 6.69% this week, up from 6.66% last week (a +3 bps weekly increase). Higher mortgage rates can weigh on housing affordability and demand, keeping a cautious tone around real-estate demand.

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