‘Kudlow’ panelists Steve Forbes, David Bahnsen and Jackie DeAngelis reveal the state of the US economy in the new year.
mortgage rates They are at the highest level since July for the third consecutive week, further hampering demand in an already stagnant housing market.
Freddie Mac’s latest primary mortgage market survey released Thursday showed that the average rate on the benchmark 30-year fixed mortgage The reading rose to 6.91% from 6.85% last week. A year ago the average rate on a 30-year loan was 6.62%.
Mortgage rates continued to rise this week, with the 30-year fixed rate average approaching 7%. (Getty Images/Getty Images)
“With a gain of just seven percent, mortgage rates reached their highest point in nearly six months,” said Sam Khater, chief economist at Freddie Mac. “Compared to this time last year, rates are higher and market affordability constraints remain.”
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The average rate on a 15-year fixed mortgage rose to 6.13% from 6.0% last week. A year ago, the rate on a 15-year fixed note averaged 5.89%.
