US 30-year mortgage rate hits highest in nearly three years Reuters
US 30-year mortgage rate hits highest in nearly three years - Reuters
In short
The 30-year mortgage rate has surged to 5.7%, marking the highest level since 2020, as interest rates continue to climb. This increase has made it more challenging for homeowners to secure loans, thus slowing down the housing market.
Key points
- The 30-year mortgage rate has reached 5.7%, the highest level since 2020.: The 30-year mortgage rate has reached 5.7%, the highest level since 2020.
- This increase has made it harder for homeowners to qualify for loans, slowing down the ho…: This increase has made it harder for homeowners to qualify for loans, slowing down the housing market.
- Interest rates continue to rise, driven by the Federal Reserve's efforts to combat inflat…: Interest rates continue to rise, driven by the Federal Reserve's efforts to combat inflation.