Estimated reading time: 0 minutes, 27 seconds

Mortgage Rates Drift in Sixth Week Above 7%

U.S. long-term mortgage rates have posted a sixth consecutive week over 7%, holding relatively steady as the Federal Reserve paused its tightening. So reports Dow Jones.

Freddie Mac 150x150According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.19% as of September 21, up from 7.18% the previous week and 6.29% a year earlier.

“Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect, which could have an impact on the already low housing supply," Sam Khater, Freddie Mac’s chief economist, said in a statement.

Read the full article from Dow Jones.

Read 754 times
Rate this item
(0 votes)


PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.