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Mortgage Rates Highest Since 2008

Mortgage Rates Highest Since 2008

We saw recently how mortgage applications have taken a nosedive in the face of rising interest rates, intense competition and rising prices.  Today’s graphic from Statista illustrates how the average 30-year fixed mortgage rate has sharply risen to levels not seen since 2008…Stay safe and have a Happy Friday!

“For real estate markets, the rising costs of borrowing are further cooling demand for homes and deepening the affordability crisis,” George Ratiu, Senior Economist at said in a statement. “The buyer of a median-priced home is looking at a monthly payment of $ 2,100 at today’s mortgage rate, a 66% jump from last year…”

Hat tip to Statista.


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