Mortgage Rates Hit Highest Levels Since Spring 2020

[mahatmakanejeeves]

Last edited Fri Jan 7, 2022, 07:39 AM - Edit history (1)

The costs of buying a home are rising as mortgage rates climb to their highest levels since the early days of the pandemic

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Mortgage Rates Hit Highest Levels Since Spring 2020
The increase is driving up the costs associated with home buying at a time when home-sales prices are already near record highs.

MARKETS

Mortgage Rates Hit Highest Levels Since Spring 2020

Increase in cost comes after ultralow rates have fueled boom in home sales and prices

By Nicole Friedman, Orla McCaffrey and Sam Goldfarb
https://twitter.com/nicolefriedman
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https://twitter.com/Orla_McCaffrey
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Updated Jan. 6, 2022 7:28 pm ET

U.S. mortgage rates this week rose to their highest levels since May 2020, driving up the costs associated with home buying at a time when home-sales prices are already near record highs.

The average rate for a 30-year fixed-rate loan was 3.22%, up from 3.11% last week, according to mortgage finance giant Freddie Mac. A year ago, mortgage rates stood at 2.65%.

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[JT45242]

1. Pandering to rethug fears

3.11 is still near historic low levels. http://www.freddiemac.com/pmms/pmms30.html

Bought first house when rates were around 7 percent for a fixed rate. So to complain that rates have risen to just above historical lows is just trying to bash a democrat, par for the course for WSJ.