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Could mortgage rates finally hit 8% ?

Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. 

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct. 5th, up 18 basis point from last week’s 7.31%. By contrast, the 30-year fixed-rate mortgage was at 6.66% a year ago at this time.

“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com