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7.49%: Mortgage Rates Rise Again

  • October 6th 2023

by UrbanTurf Staff

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Mortgage rate chart_10-05-23.png

Long-term mortgage rates rose again this week. 

Freddie Mac reported 7.49% as the average on a 30-year mortgage on Thursday, up 18 basis points from last week. 

“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s Chief Economist. “Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/749_mortgage_rates_rise_again/21554.

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