"Mortgage Rates Rise to 6.54% as Homebuyers Decide Whether To ‘Act Before Winter’"
Posted by Grossman & Jones Group on
Realtor.com shares, "mortgage rates climbed from 6.44% last week to 6.54% for a 30-year fixed home loan for the week ending Oct. 24, according to Freddie Mac.
“The continued strength in the economy drove mortgage rates higher once again this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Over the last few years, there has been a tension between downbeat economic narrative and incoming economic data stronger than that narrative. This has led to higher-than-normal volatility in mortgage rates, despite a strengthening economy.”
Unfortunately for would-be homebuyers—and sellers—this uptick marks the fourth week in a row that mortgage rates have risen.
“This rapid run-up in mortgage rates has sapped some of the burgeoning…
41 Views, 0 Comments