« previous next »
Pages: [1]   Go Down

Author Topic: U.S. mortgage interest rates jump to 7.16%, highest since 2001  (Read 264 times)

0 Members and 1 Guest are viewing this topic.

Online mystery-ak

  • Owner
  • Administrator
  • ******
  • Posts: 382,852
  • Gender: Female
  • Let's Go Brandon!
U.S. mortgage interest rates jump to 7.16%, highest since 2001
« on: October 26, 2022, 02:38:13 pm »
October 26, 20226:25 AM CDTLast Updated 3 hours ago
U.S. mortgage interest rates jump to 7.16%, highest since 2001
Reuters

Oct 26 (Reuters) - The average interest rate on the most popular U.S. home loan rose to its highest level since 2001 as tightening financial conditions weigh on the housing sector, data from the Mortgage Bankers Association (MBA) showed on Wednesday.

The average contract rate on a 30-year fixed-rate mortgage rose by 22 basis points to 7.16% for the week ended Oct. 21 while the MBA's Market Composite Index, a measure of mortgage loan application volume, fell 1.7% from a week earlier. Mortgage application activity is at its slowest pace since 1997.

Mortgage rates have more than doubled since the beginning of the year, as the Federal Reserve pursues an aggressive path of interest rate hikes to rein in stubbornly high inflation.

more
https://www.reuters.com/markets/us/us-mortgage-interest-rates-jump-716-highest-since-2001-2022-10-26/
Logged
Proud Supporter of Tunnel to Towers
Support the USO
Democrat Party...the Party of Infanticide

“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”
-Matthew 6:34

Offline Kamaji

  • Hero Member
  • *****
  • Posts: 57,900
Re: U.S. mortgage interest rates jump to 7.16%, highest since 2001
« Reply #1 on: October 26, 2022, 02:41:25 pm »
Wow.
Logged

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 10,107
  • Gender: Male
Re: U.S. mortgage interest rates jump to 7.16%, highest since 2001
« Reply #2 on: October 26, 2022, 02:41:25 pm »
That's going to make the interest payments on the National Debt eat into discretionary Federal spending, in saner, more rational times.
Logged
Self-Anointed Deplorable Expert Chowderhead Pundit

I reserve my God-given rights to be wrong and to be stupid at all times.
"If at first you don’t succeed, destroy all evidence that you tried." - Steven Wright
Pages: [1]   Go Up
« previous next »