US mortgage rates hit 23-year high     ...News

Russia Today - Economy
US mortgage rates hit 23-year high    
source : Russia Today ( News ) () 33
Economists have warned of a “dire” situation on the housing market   American home loan rates have surged to their highest level in more than two decades, moving close to 8% this week after the Federal Reserve’s aggressive campaign to hike interest rates.      The average 30-year fixed mortgage rate hit 7.49% on Tuesday for the first time since late 2000, putting a strain on the post-Covid housing market, data from Mortgage News Daily revealed.   Home-purchase applications fell for a sixth week to the lowest level since 1995, as rising costs placed homeownership increasingly out of reach for many Americans, accord

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