The average 30-year mortgage rate has risen to 5.89%, the highest level since 2008, according to new data.
Mortgage rates briefly declined for a period this summer even as the Federal Reserve raised the key interest rate to fight inflation. Markets have been closely watching the Fed's moves since the interest rate hikes began in March.
Mortgage rates tend to track U.S. government bond yields. This week, the yield on the 10-year Treasury note jumped as high as 3.35%, itself the highest level in more than a decade.
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Mortgage rates hit 5.89% — highest level since the 2008 housing crashMORTGAGE RATES CLIMB: Borrowing costs for a conventional home loan have more than doubled over the last year. onyourside mortgagerates alabamanewsnetwork
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Long-term mortgage rates now at highest point since 2008Average long-term U.S. mortgage rates jumped again this week to their highest level in almost 14 years, certain to keep even more potential buyers out of a housing market that’s cooled considerably since the Federal Reserve began jacking up its benchmark borrowing rate.
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Long-term mortgage rates now at highest point since 2008Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market .
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Long-term mortgage rates now at highest point since 2008Average long-term U.S. mortgage rates jumped again this week to their highest level in almost 14 years, certain to keep even more potential buyers out of a housing market that’s cooled considerably since the Federal Reserve began jacking up its benchmark borrowing rate.
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