Mortgage rates hit their highest level in a year, driven by war and inflation concerns
Source Summary
The 30-year fixed-rate mortgage reached 6.66% on average Thursday, marking its highest level in a year. The increase reflects growing concerns about geopolitical tensions and persistent inflation pressures in the economy.
In depth
The 30-year fixed-rate mortgage averaged 6.66% on Thursday, reaching its highest point in the past year. This elevation is attributed to mounting concerns regarding geopolitical instability and inflationary pressures affecting the broader economy. The combination of these macroeconomic factors has contributed to upward pressure on borrowing costs for homebuyers.
