July 16, 2024

News of a second consecutive monthly increase in home construction, along with other favorable economic reports, helped push rates on 30-year mortgages to an average of 6.23 percent this week the highest level in nine weeks, according to analysts.

A week ago, 30-year fixed loans averaged 6.21 percent, according to mortgage finance giant Freddie Mac. The improving performance of the economy means the Federal Reserve will be less likely to cut interest rates any time soon. [tags] mortgage rates, loan rates, home loans, interest rates [/tags]  downtown San Diego condos

5 thoughts on “30-Year Mortgage Rates Rise to 9-Week High

  1. The feedback from house prices to credit growth is stronger in the
    case of countries with more market-sensitive valuation methods for
    mortgage accounting. This suggests that prudential rules may have an
    impact on the co-movement between residential real estate prices and
    the performance of the financial system.

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