General World News

The 8% mortgage is here

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% for the first time since 2007, according to one index.

Per Mortgage News Daily, mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate for conventional loans at 7.78% on Wednesday, compared to 7.52% the previous week.

Both indexes showed higher rates than the Freddie Mac‘s Primary Mortgage Market Survey, which focuses on details ⇒

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