Mortgage rates are on the rise again after a short reprieve. Yesterday, Freddie Mac said this week’s average rate on a standard 30-year mortgage was 6.44 percent. Mortgage rates are still more than one percentage point lower compared to a year ago. But the rates have been increasing for three weeks in a row, and are now well above the two-year low seen last month. Economists said higher rates reflect strength in the economy.
Mortgage Rates Rise for 3rd Straight Week | Business Matters (Oct. 18)
By Don Ma