Today’s Lead Story
Monday, August 10Mortgage & Housing
30-Year Mortgage Rate Climbs to 6.69%, the Highest in More Than a Year
via Freddie Mac
The average 30-year fixed mortgage rate rose to 6.69% for the week ending August 6, the highest reading in over 13 months, according to Freddie Mac's weekly survey. The 15-year fixed rate edged down slightly to 6.01%, as persistent inflation concerns keep borrowing costs elevated.
Why it matters
Rising rates increase monthly payments for homebuyers and reduce the benefit of refinancing, so households weighing either move should factor in the higher cost environment.
