Mortgage rates are surging as 2024 comes to a close. Here’s why
According to mortgage buyer Freddie Mac, the rate rose to 6.85% from 6.72% last week.
The average rate on a 30-year mortgage in the U.S. rose for the second week in a row to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans.
The rate rose to 6.85% from 6.72% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate on a 30-year mortgage averaged 6.61%.
The average rate on a 30-year...
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