Mortgage rates soar to their highest level in 21 years (www.cnn.com)

submitted 1 year ago by deconstruct@lemmy.world to c/personalfinance@lemmy.ml

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The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.

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[-] init@lemmy.ml 5 points 1 year ago

Purchased a house at about the same interest rate weeks before the rates went up. I am also still amazed at the timing and where we are.

this post was submitted on 17 Aug 2023

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