General World News

Volatile mortgage rates rise to 3.85% amid war, record inflation

Following two weeks of declines, mortgage rates rose this week, reflecting the volatility of the U.S. economy brought by inflation and Russia’s war in Ukraine. The average 30-year-fixed rate mortgage increased to 3.85% for the week ending March 10, up from 3.76% in the previous week, according to the latest Freddie Mac PMMS Mortgage Survey.

A year ago, the 30-year fixed-rate mortgage averaged 3.05%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. The survey said buyers paid 0.8 mortgage points on average.

According to Sam details ⇒

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