Mortgage Rates Continue to Surge

“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s Chief Economist. “Several factors, including shifts in inflation, the job market, and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.”

News Facts

• The 30-year fixed-rate mortgage averaged 7.49 percent as of October 5, 2023, up from last week when it averaged 7.31 percent. A year ago at this time, the 30-year FRM averaged 6.66 percent.
• The 15-year fixed-rate mortgage averaged 6.78 percent, up from last week when it averaged 6.72 percent. A year ago at this time, the 15-year FRM averaged 5.90 percent.

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.