Real Estate
Mortgage Rates Have More Than Doubled Over The Last Year — And Could Keep Climbing
Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve.
October 20, 2022
Demand rises for adjustable-rate mortgages
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Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at this time, the rate was 3.09%.
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