THENATIONALPULSE (Pulse Wires) - U.S. 30-Year Mortgage Rate Hits Yearly High of 6.66%.
The average 30-year fixed mortgage rate has risen to 6.66 percent, adding financial strain on prospective homebuyers.
The average 30-year fixed mortgage rate has risen to 6.66 percent, adding financial strain on prospective homebuyers. PULSE POINTS WHAT HAPPENED: The average rate on a 30-year fixed U.S. mortgage has climbed for the fourth consecutive week, reaching its highest level in a year and adding another challenge for prospective homebuyers facing elevated borrowing costs. Mortgage buyer Freddie Mac reported Thursday that the benchmark rate increased to 6.66 percent from 6.58 percent last week, compared with 6.72 percent a year ago. DETAIL: The average rate on a 15-year fixed mortgage, commonly used for refinancing, also rose to 6.04 percent from 5.96 percent the previous week, up from 5.85 percent one year ago. Higher mortgage rates can add…Open