General World News

Mortgage rates blow past industry predictions

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022.

Economists had predicted rates would rise as the overall economy stabilized. The latest mortgage rate survey from Freddie Mac puts rates for the 30-year fixed-rate mortgage at 3.69%, while the average rate in the latest mortgage application survey from the Mortgage Bankers Association was 3.83%.

Other indices put mortgage rates even higher. Black Knight‘s Optimal Blue, which provides data for the secondary market, reported the average rate for 30-year conforming mortgages was 4.071% on Friday details ⇒

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