General World News

Mortgage rates have eclipsed 3.5%

The average 30-year-fixed rate mortgage climbed to 3.56% during the week ending Jan. 20, rising from 3.45% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe they’ll continue to climb in the weeks and months ahead.

“Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation,” Sam Khater, Freddie Mac’s chief economist, said in a statement.

The Federal Reserve announced in December that it is accelerating its tapering of bond-purchases starting details ⇒

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