U.S. mortgage rates jumped this week to the highest level in almost eight years, a trend that is pulling down home sales and slowing home price growth. Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year, fixed rate mortgage rose to 4.94 percent, from 4.8
Source: abcnews.go.com
U.S. mortgage rates increased this week to the highest level in almost eight years, impacting home sales negatively and slowing home price growth. On November 8, 2018, mortgage buyer Freddie Mac stated that the average rate on a 30-year, fixed rate mortgage rose to 4.94%, from 4.83% last week. This marks the highest level since February 2011. Last year, the average rate was 3.9%. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.
