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Mortgage rates top 3% for first time since June
Yahoo Money
Mortgage rates top 3% for first time since June
Janna Herron · Editor
Thu, September 30, 2021, 1:22 PM
Mortgage rates topped 3% for the first time since late June, as expectations for higher interest rates overall increased after comments from the Federal Reserve chairman this week.
The rate on the 30-year fixed mortgage — the most common home loan for homebuyers — increased to 3.01% this week, according to Freddie Mac, up from 2.88% last week.
That’s the highest level since the week of June 24 when rates stood at 3.02% and the largest one-week increase since late February.
“Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June,” Freddie Mac Chief Economist Sam Khater said in a statement. “Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages.”
{snip}
Mortgage rates top 3% for first time since June
Janna Herron · Editor
Thu, September 30, 2021, 1:22 PM
Mortgage rates topped 3% for the first time since late June, as expectations for higher interest rates overall increased after comments from the Federal Reserve chairman this week.
The rate on the 30-year fixed mortgage — the most common home loan for homebuyers — increased to 3.01% this week, according to Freddie Mac, up from 2.88% last week.
That’s the highest level since the week of June 24 when rates stood at 3.02% and the largest one-week increase since late February.
“Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June,” Freddie Mac Chief Economist Sam Khater said in a statement. “Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages.”
{snip}
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
Make you wonder how long it will last!
