Uncategorized September 22, 2022

Mortgage Rate Rises Again

The 30-year fixed-rate mortgage increased by a quarter of a percent and now stands at 6.29 percent, Freddie Mac reported today.  The hike comes on the heels of the Federal Reserve’s increase in the 10-year Treasury yield of three-quarter of a percent yesterday, pushing it to its highest level since 2011. Impacted by higher rates, home prices have been softening and home sales. have decreased.  However, the number of homes for sale remains well below normal levels, according to Freddie Mac.