Mortgage Rates Jump to 7.49%, Keeping Affordability Out of Reach For Homebuyers

October 5, 2023

Associated Press, Oct. 5, 2023
The cost of financing a home surged again this week as the average long-term US mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.
The average rate on the benchmark 30-year home loan rose to 7.49% from 7.31% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.66%
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